With over 150 appearances for the Welsh Region, Faletau will run out as Captain for the first time in his career. Talking about taking on the role of skipper, the back-row commented: "There have been people before me who have led the team superbly and I'm honoured to follow behind them.
"The only time that I've captained a side has been on FIFA! I've already told the team that it will be a pretty quiet changing room but hopefully I can have a few words to get the boys up for it."
He continued: "I'm not really thinking about it being my last game (at Rodney Parade), it's just another game of rugby, but derbies are always exciting games with a bit of edge with competition for places."
Director of Rugby, Lyn Jones has made two change to the team that narrowly lost out to Edinburgh last weekend as Elliot Dee and Matthew Screech are named. The back three remain unchanged as fullback Carl Meyer gets the nod alongside Ashton Hewitt and last weekend's try-scorer Hallam Amos. The centre partnership of Tyler Morgan and Adam Warren also remains intact. Fly-half Dorian Jones is also selected alongside scrum-half Sarel Pretorius.
The front row has one change made to it as hooker Elliot Dee is named alongside props Phil Price and Brok Harris. The second row also has a change made to it as Matthew Screech replaces Cory Hill who suffered a hip injury during the match last weekend. Screech scrums down alongside experienced lock Rynard Landman. The back row sees flankers Lewis Evans and Nic Cudd selected alongside skipper Taulupe Faletau.
The replacements bench sees three changes as Thomas Rhys Thomas, Nick Crosswell and Geraint Rhys Jones join Boris Stankovich, Lloyd Fairbrother, Ed Jackson, Charlie Davies and Adam Hughes.
Newport Gwent Dragons team to face Ospreys
Carl Meyer, Ashton Hewitt, Tyler Morgan, Adam Warren, Hallam Amos, Dorian Jones, Sarel Pretorius; Phil Price, Elliot Dee, Brok Harris, Rynard Landman, Matthew Screech, Lewis Evans, Nic Cudd, Taulupe Faletau ©.
Replacements: Thomas Rhys Thomas, Boris Stankovich, Lloyd Fairbrother, Nick Crosswell, Ed Jackson, Charlie Davies, Geraint Rhys Jones, Adam Hughes.
Tickets are still on sale for the Dragons derby clash against Ospreys. Supporters can buy online or by calling 01633 674990.