Carano and Cyborg are both predicting that the fight will happen February.
"I think it'll be in February, and it'll be cool," Cyborg told Tatame.com. "Everybody wants to see this fight. We both fought [at EliteXC: Heat on CBS] and won, and it'll be great."
Carano, appearing on ESPN's "MMA Live," said there's no one else right now she wants to fight but Cyborg.
"I'm really looking forward to it," Carano said. "And if they give me anybody else, I'm going to say 'No, give me Cyborg next,' for sure. And I'm sure she wants me, so it's gonna be a good one."
The weight and if a title will be on the line have yet to be determined. Carano last fought at 140 pounds and Cyborg at 148.5.
Carano is 7-0 overall in MMA and 4-0 in EliteXC, but has often been criticized for fighting smaller opponents. A win for Carano here over Cyborg, 6-1 with 4 (T)KOs, would silence critics.