Evander Holyfield will fight IBF cruiserweight champion James Toney in a 10-round non-title fight in Las Vegas on 4 October.
Promoter Dan Goossen announced on Wednesday that the fight would take place at the Mandalay Bay Resort and Casino.
Holyfield, who has said he will not retire until he reclaims the
IBF, WBC and WBA title belts, hopes the bout will move him closer to a championship bout.
The four-time world heavyweight champion had hoped to fight WBC champion Roy Jones Jr but negotiations for that fight stalled over money.
The 40-year-old Holyfield, who has won 38, lost six and drawn two of his 46 fights, continues to fight in a quest to become undisputed world champion.
In Toney, he faces a man who began his career at middleweight and has since risen through boxing's divisions.
The 34-year-old has held world titles at three weights and has suffered just four defeats in 72 contests.
He won the cruiserweight title from Kazakhstan's Vassiliy Jirov in April and had hoped to fight undisputed middleweight champion Bernard Hopkins in August.
But Hopkins could not agree terms for that fight and Toney now faces a bigger challenge by rising in weight to fight Holyfield, a man who holds advantages in height and reach.