The T20 BBL matches will be played across Australia throughout December, January and February and the final is scheduled Feb 7.
Warner will play for the Sydney Thunder and Smith will line up with the Sydney Sixers at the SCG (Sydney Cricket Ground) Saturday night.
Bailey has also been released to play Sunday for the Hobart Hurricanes' match against the Adelaide Strikers in Hobart.
CA said the Ashes series win had provided more flexibility when it came to releasing Test players for the Twenty20 competition.
"We have worked closely with the BBL clubs for several months about Test player availability given the early stages of the tournament are played while the Ashes series is still in progress," CA Executive General Manager of Team Performance Pat Howard said.
"After careful consideration of player fitness and workload issues, we have agreed to release George Bailey, Steve Smith and David Warner for BBL duties Dec 21 and 22."
However, the bowlers from Australia's winning Ashes team were not considered for release given their recent workload and the need to prepare for the Melbourne and Sydney Test, Howard said.
--IANS (Posted on 18-12-2013)