Francis Ngannou and Anthony Joshua will square off in Saudi Arabia.
Matchroom and Queensberry made the announcement on Friday evening.
The fight’s date will be announced the following week, and a press conference is scheduled for January 15 in London.
On December 23, Joshua defeated Otto Wallin in five rounds as he continued his quest to reclaim the heavyweight title.
The American was scheduled to face Deontay Wilder next, but Parker defeated him on the same card.
In October of last year, Ngannou, the former heavyweight champion of the UFC, defeated Tyson Fury in his debut professional boxing match.
Ngannou is currently rated among the top 10 heavyweight contenders in the WBC, but Fury prevailed via split decision.
After his battle with Wallin, Joshua boasted, saying, “I’m down to fight anyone.” whenever and by whom.”