Petruzelli made the announcement Monday on his social media accounts and according to the colorfully-haired fighter, the event will air on pay-per-view and will feature other former K-1, PRIDE and UFC fighters.
Petruzelli and Shamrock once shared the same spotlight in October 2008 when the two were booked as main event opponents for Kimbo Slice at the disastrous, final EliteXC card on CBS.
Shamrock pulled out of the fight hours before when he received a cut while warming up for the fight. Petruzelli was called to be a late replacement and stopped EliteXC's poster boy in 14 seconds, contributing to the fall of the company after 22 shows.
Shamrock is currently serving a one-year suspension for a positive steroid test following his 60-second armbar submission last February at an event in which he co-promoted with War Gods. Shamrock will be allowed to reapply for his license on Feb. 1.
Petruzelli returned to action in August and defeated Chris Baten by TKO. A follow-up fight was postponed after Petruzelli incurred a hand injury.