The test, which is only available to Xbox owners in the US and Canada, will last for little over a day with an end time of February 8 at 11:59pm PST.
Participants will be able to carry their progress over to the main game, Xbox said on Monday, and will also be able to obtain special in-game rewards by logging in or participating in time-sensitive quests.
Players can sign up for the closed beta now through the Xbox Inside Hub, and pre-download the game starting Monday, February 3.
PC players can register for early sign-up on Windows 10, but this Closed Beta is exclusive to Xbox One.
Phantasy Star Online 2 was revealed during the Xbox 2019 E3 conference, with a trailer stating that “Japan’s greatest online RPG launches in the west via Xbox One”.
However, shortly after the conference ended the official Sega Twitter account clarified that the announcement was only relevant to North America, and that a European release was not yet confirmed.
“#PSO2 is finally making its western debut in North America on Xbox One in Spring 2020,” it said. “Regarding an EMEA release, there’s nothing to confirm right now. We understand it’s frustrating, but when we have more news to share, we will.”
The Xbox One release, planned for spring 2020, will include all the existing content and will be free-to-play.
Sega had previously announced that the PC version was coming to North America and Europe back in 2013, but it was never released.