The Portuguese Super Cup is played between the winners of the Primeira Liga and the Portuguese Cup with Porto's 21 titles the most in the competition's history.
Sergio Conceicao's men completed the domestic double last season, pipping Benfica to the top-flight title by five points before defeating them 2-1 in the Taca de Portugal final.
They have struggled to hit the same heights in the current campaign, though, with their 22-point haul from their opening 10 league games only good enough for third place.
Despite this, the Dragons are undefeated in their last 11 outings and qualified for the last 16 of the Champions League with ease.
Scoring goals is what Porto do best, and their 25 strikes in the Primeira Liga means they are currently the most potent attacking force in Portugal.
It is set to be an exciting encounter between the nation's biggest clubs and one where Conceicao's side will simply look to outscore their opponents.
Jorge Jesus is halfway through his second season in his second stint in charge of the Eagles after guiding them through a trophy-laden six-year spell between 2009 and 2015.
The Supertaca Candido de Oliveira was the only trophy the 66-year-old managed to bring back to the Estadio da Luz in 2019-20, something Jesus will be looking to rectify this time around.
After losing back-to-back league games at the end of October and the start of November, the Eagles have gone nine matches unbeaten in all competitions to get their season back on track.
They are currently two points behind city rivals and early pace setters Sporting Lisbon in the league table and two points and one place above Wednesday's opponents.
A win in midweek would claim the first piece of silverware on offer for Portuguese sides and send out a real statement of intent to their domestic rivals.
Porto form (all competitions): DWWWWW
Benfica form (all competitions): WWDWDW
Striker Moussa Marega will be hoping to play a big part after bagging four goals in his last three outings, as will attacking midfielder Sergio Oliveira, who has eight goals and three assists to his name this season.
Jesus will be unable to call upon Barcelona loanee Jean-Clair Todibo who is ruled out with an Achilles tendon injury, along with experienced right-back Andre Almeida (cruciate ligament) and defensive midfielder Gabriel (shin).
Porto possible starting lineup:
Marchesin; Nanu, Mbemba, Leite, Sanusi; Corona, Oliveira, Uribe, Otavio; Taremi, Marega
Benfica possible starting lineup:
Vlachodimos; Grimaldo, Vertonghen, Otamendi, Gilberto; Everton, Weigl, Pizzi, Pedrinho; Nunez, Seferovic
We say: Porto 2-1 Benfica
It should be a close affair between two evenly matched teams desperate to get their hands on some silverware. Both sides are in good form so it is a hard one to call, but Porto's firepower should see them over the line.