The Las Vegas Sun was first to report of the matchup and MMA Fighting has since confirmed the fight has been signed.
Barry has been sidelined with injuries from his win against Antoni Hardonk at UFC 104 in October. Barry won the $120,000 Knockout and Fight of the Night bonuses, but also had to have pins inserted in his broken thumb.
Meanwhile, Yvel lost his UFC debut earlier this month against Junior Dos Santos at UFC 108.
Due to their similar backgrounds, Yvel-Barry has been a combination fans have discussed ever since Yvel signed with the UFC. When MMA Fighting asked Yvel last month what he thought of a potential fight against Barry, Yvel sounded more than confident.
"I used to train together with Pat," Yvel said. "He's a nice guy. I don't want to sound cocky, but Pat is a nice guy and a pretty good stand up fighter, but he's not in my league. Let's just say that it's good for him. I was surprised he got a win over Antoni Hardonk because Antoni in my mind is way better standing and better on the ground. You never know what's going to happen in the cage."
UFC 115 is the pay-per-view closest to the conclusion of The Ultimate Fighter 11 and could potentially host the season's coach vs. coach showdown between Chuck Liddell and Tito Ortiz.