The Terps and Sun Devils tip off from the Sprint Center at 7 p.m. on Nov. 24. That game will be televised by ESPNU.
Alabama and Iowa State play in the nightcap on ESPN2.
The winners will play in the championship game the following night at 9:30 p.m. The loser's play in a consolation game beforehand.
As part of that week's festivities, former Terps coach Gary Williams will be inducted into the National Collegiate Basketball Hall of Fame in Kansas City on Nov. 23. (He goes into the Naismith Memorial Basketball Hall of Fame this Friday.)
The Terps played in the CBE Hall of Fame Classic once before, in 2007, and went 2-2.
Maryland won its preseason tournament last season, beating Providence in the championship of the Paradise Jam in the Virgin Islands.
Arizona State went 21–12 last season in the Sun Devils' eighth season under former N.C. State coach Herb Sendek. The Sun Devils return a couple key starters in guard Jermaine Marshall and 7-foot-2, 250-pound center Jordan Bachynski, but star guard Jahii Carson left for the NBA.
The Terps are 1-1 all-time against Arizona State, last meeting in 1994 at the Maui Invitational.