The league says Thursday it will encourage fans to donate during games on national television and with signage behind home plate.
The plant in West, Texas, exploded during a fire April 17. Officials say 12 emergency responders were killed and dozens of homes were destroyed or damaged in the massive explosion that left a crater 90 feet wide.
The donation from MLB and its players will be to the POINTWEST Bank Fund in West, about 75 miles south of Dallas.
Commissioner Bud Selig says baseball is proud to donate in the town's "difficult time of need."