"To protect Earth from potentially hazardous impacts, we need to understand asteroids much better - what they are made of, their structure, origins and how they respond to collisions," Dr Patrick Michel, lead investigator for the European Space Agency half of the mission, said.
"AIDA will be the first mission to study an asteroid binary system, as well as the first to test whether we can deflect an asteroid through an impact with a spacecraft."
AIDA is made up of two "sub-missions", the ESA-led Asteroid Impact Mission (AIM) and the American space agency Nasa's Double Asteroid Redirection Test (DART) mission.
DART will fire the probe into Didymoon, which orbits diamond-shaped Didymos every 12 hours from a distance of 1.1km.
AIM will measure properties of Didymoon such as its mass and density and deploy a small lander to investigate the object's internal structure.
In October 2022, AIM will move out to a safe distance to observe DART hitting the asteroid and record any changes in orbit.