The Australian’s clash with the South Korean will serve as the main event of UFC 273 on April 9, according to MMA journalist Ariel Helwani.
UFC 273 is expected take place later this year at the Barclays Center in Brooklyn, per a report by MMA Fighting.
Volkanovski was left searching for a new opponent after a planned trilogy fight with former champion Holloway fell apart.
The Warilla warrior was set to face the Hawaiian in his first outing since his epic battle with Brian Ortega in Las Vegas in September.
However, Holloway reportedly aggravated a pre-existing injury during his training camp, which meant Volkanovski was forced to look elsewhere instead.
And now the 33-year-old will put his number one ranking in the UFC on the line against the ‘Korean Zombie’ albeit a month later than he had previously anticipated.
The ‘Great’ ultimately got his hand raised at the end of an incredible featherweight duel against ‘T-City’ Ortega in what can be classed as one of the best UFC fights we have ever seen.
And Volkanovski says he won’t stop until he has cleared out the entire division – including Giga Chikadze.
He told the UFC: “I’m the champion chasing these contenders, and that’s why you see me keeping a close eye [on the division].
“These guys are coming up – we’ve got a stacked division, and they all want that belt.
“They ain’t [sic] getting’ it, but they all want it, and I’ve got my eye on all of them.”
But Chikadze, who faces Calvin Kattar on Saturday and whose last fight was a win over Edson Barboza, has criticised the defending champion for taking the ‘easy’ route.
Speaking to MMA Fighting, he said: “I know the champ – the chump – is trying to have an easy task.
“Probably the Korean Zombie, – no disrespect [to the] top 10, everybody is tough, but I believe I already beat one of the strongest guys in the division the last time.
“And now the easiest one in all these guys is the Korean Zombie for me. That’s how I see the champ is looking to get this fight. Because he wants to go with the easy way.
“Honestly for me, I think that’s the easy fight in the top 10. This guy cannot even reach me when we stand together.
“What’s he going to do? Some guys have good submissions. Some guys have good punches or technique. What does he have against me? Nothing.”