Corry - whose impressive performances in this year's tournament look to have guaranteed him a place in the Lions tour squad - will lead his country for the first time, as he takes over from injured full-back Jason Robinson.
England head coach Andy Robinson announced Corry's appointment, in addition to naming a 30-man training squad for the Italy clash which includes Gloucester wing James Simpson-Daniel and Leicester centre Leon Lloyd.
Corry, who has won 35 caps, becomes the 119th player to captain England and third leader appointed by the new head coach in just a few months after Jonny Wilkinson, who then picked up his latest injury, and Robinson.
"Martin Corry has really impressed me with his performances for both England and Leicester this season," said Robinson.
"He has had some outstanding games. Together with other forwards such as Ben Kay, he has supported Jason Robinson by offering great leadership from the back-row.
"I know he will step up to the challenge for this important game against Italy.
"I would like to welcome James Simpson-Daniel back into the squad after his recent shoulder injury, and Leon Lloyd has impressed for Leicester, and I am delighted to see him return to join the squad next week."