The UFC confirmed the opponent swap on Tuesday afternoon.
No specifics were offered on Akiyama's injury, or how long it would keep him out of action.
Bahadurzada made a successful UFC debut at the promotion's April event in Sweden, knocking out the durable Paulo Thiago in just 42 seconds. Overall, it was his seventh straight win as he improved his career record to 21-4-1.
His fight with Alves should come as a striker's delight, as both men prefer the standup game to any other facet of MMA.
Alves will be looking to rebound following a heartbreaking loss at at March UFC on FUEL event. After controlling the first two rounds of his main event fight with Martin Kampmann, Alves went for a takedown and was choked out guillotine. The loss dropped the former No. 1 contender to 19-9.