The Fiesta Bowl had a dud of a game last year and nearly lost its BCS status after an investigation into financial improprieties.
Bowl organizers worked hard to restore its image and landed a golden game between the Cardinal and the Cowboys.
Oklahoma State (11-1) fell just short in its national championship bid, finishing third in the final BCS standings.
Stanford (11-1) lost its chance to play for the national title with a loss to Oregon, but will be playing in a BCS bowl for the second straight season.
The Jan. 2 game also will include two premier quarterbacks: Brandon Weeden of Oklahoma State and Stanford's Andrew Luck.