The bout has yet to be officially signed. Ariel Helwani first reported news of the plans.
Cannonier (15-6) and Strickland (25-4) are both top-ranked middleweights in the MMA Fighting Global Rankings. Cannonier is the No. 4-ranked middleweight in the world, while Strickland is currently slotted at No. 11.
Both men recently suffered losses at UFC 276, with Cannonier losing a lopsided decision to UFC middleweight champion Israel Adesanya and Strickland suffering a first-round knockout loss to the division’s next title challenger, Alex Pereira.
A date and venue has yet to be formalized for the UFC Fight Night event on Oct. 15.
Mike Heck and Damon Martin contributed to this report.