There is not a simple Universal utility included with OSX to do this. But there is a freeware package available.
Set the Default application for a filetype in Mac:
- RCDefaultApp is a Mac OS X 10.2 or higher preference pane that allows a user to set the default application used for various URL schemes, file extensions, file types, MIME types, and Uniform Type Identifiers (or UTIs; MacOS 10.4 only). MacOS X uses the extension and file type settings to choose the application when opening a file in Finder, while Safari and other applications use the URL and MIME type settings at other times for content not related to a file (such as an unknown URL protocol, or a media stream).
Thanks to APC Mag for pointing to this:
How to: set your default applications in Mac OS X