Far-right activist Jack Posobiec will join Mastriano at the rally.
Students will now receive a non-transferable wristband which they will be required to show to enter the student section.
Penn State police said it recommended Monday night's controversial event to be canceled as violence escalated.
The event, which was set to feature the founder of the Proud Boys, Gavin McInnes, and Alex Stein, was canceled less than an hour before its scheduled start due to the "threat of escalating violence."
Our staff was on the scene to capture the large police presence, pepper spraying, and protesting outside of the Thomas Building on Monday evening.
"We have encouraged peaceful protest, and, while protest is an acceptable means of expression, it becomes unacceptable when it obstructs the basic exchange of ideas," the university wrote.