Barenboim, 66, will lead the famed orchestra in one of the world's most famous classical events at Vienna's ornate Musikverein hall today.

He follows in the steps of Herbert von Karajan, Zubin Mehta, Riccardo Muti, Seiji Ozawa and Lorin Maazel, all of whom were selected by the orchestra's musicians, who have managed the Philharmonic since its creation in 1842.

While the New Year's concert traditionally features waltzes, marches and polkas, this year's program will include Joseph Haydn's Symphony No. 45, or "Farewell Symphony," to commemorate the start of ceremonies marking the 200th anniversary of his death.

In all, 16 pieces will be performed: mostly works by Johann Strauss junior and senior, except for Josef Strauss's "Music of the Spheres" and Josef Hellmesberger's "Valse espagnole."

Not on the program but no less expected are the encores "The Blue Danube" and the "Radetzky March," which traditionally close the concert.

Barenboim, who in 1999 founded the West-Eastern Divan Orchestra gathering young Israeli and Palestinian musicians to promote peace in the Middle East, also added Johann Strauss Jr's "Maerchen aus dem Orient" (Tales from the Orient) to the list.

Pre-recorded short films to accompany the music for the television broadcast were choreographed by star dancer and Berlin Opera artistic director Vladimir Malakhov, who also performed with dancers from the Berlin and Vienna operas.

Tickets for the New Year's concert are notoriously hard to come by and can fetch hundreds of euros.

The concert, first performed on Dec. 31, 1939 and held every year since, will be broadcast on television in 71 countries around the world, from Albania to Australia and Trinidad and Tobago to the United States.

Some 80 technicians and 60 cameras are to contribute to the spectacle and the European Broadcasting Union, which will work in tandem with Austrian public television ORF, has already signed a new four-year contract for broadcasting rights.

In 2008, 41 million viewers tuned in to watch the concert on the morning of Jan. 1.

Some 300 radio stations around the world will also air the event.

Every year sees a race against time to release a CD as quickly as possible, and this year's recording will go on sale on Jan. 7.

This will be followed by a DVD on Jan. 12, and a BLU-RAY version on Feb. 16.