The trilogy fight between Eddie Alvarez and Michael Chandler is set for May 17 on pay-per-view.
"When you put two of the greatest fighters on Earth in the cage together sometimes you get artistic majestry," Bellator CEO Bjorn Rebney said during the announcement during Friday's Bellator 110.
Alvarez reclaimed the Bellator lightweight title when he defeated Chandler via split decision at Bellator 106 this past November.
"I think me and my team created a blueprint, a way to figure out Mike Chandler. I think we'll leave up to his guys to make the adjustments," Alvarez said.
Bellator 106 was supposed to be on pay-per-view but after Tito Ortiz, who was scheduled to fight Rampage Jackson in the main event, suffered an injury the event was aired on Spike TV.
Chandler won the Bellator lightweight title in the first fight between the two rivals via a rear-naked choke in the fourth round of their Bellator 58 clash on Nov. 19, 2011.
The last fight left a bitter taste in my mouth. I'm excited to do it again," Chandler said. "It's a chance of redemption for myself."
A site for the pay-per-view was not announced.
UPDATE: Though no official location has been announced, Bellator officials did say that the site for the May 17 pay-per-view had been narrowed down to San Diego and Memphis. If the card is held in Memphis, there's a good chance that Quinton Jackson would fight Muhammed Lawal on that PPV card. Jackson, who now lives in Southern California, is a Memphis native.