Joseph Parker will fight Anthony Joshua on March 31st (UK Time), with the fight being confirmed overnight by Joshua's promoter Eddie Hearn.
Hearn tweeted the confirmation of the much-anticipated world heavyweight fight, which will be held at the Principality Stadium in Cardiff.
Joshua will defend his WBA, IBF and IBO belts in the fight, with Parker holding the WBO belt in what will be a massive unification bout.
After lengthy negotiations, Parker is set to bank about $12million from the fight (not $30m as mentioned in some recent reports) – and even more in the rematch should he be successful. However, he said money wasn't a motivating factor.
"I've done it a few times now," he said. "The money – if you train hard and focus on what you have to do, the money comes. Everyone has their job. My promoters are focused on what they have to do and I know what I have to do – train hard, be mentally strong, be in great shape and put in a great performance. As long as I know what my focus is and what I have to do, the money side of things won't affect me.
"It's a great opportunity to make a statement. Being involved in a big fight is exciting – it's going to be a little part of history."
Joshua gave credit to Parker and his team for agreeing to terms for the fight.
"We all know what happened last time I was in a unification fight. It was gruelling, it was interesting, and we both left the ring with masses of respect," said Joshua.
"These fights aren't easy, cause there's a lot on the line, so respect to Team Parker for taking the challenge.
"You know me - I love this game - I'm looking forward to it, training camp is underway, and before you know it, March 31st will be upon us."
Parker says Joshua may think he has the edge, but the Kiwi is confident he can surprise him.
"He thinks he's got me physically – he may be big, he may be strong with all these muscles, but muscles aren't going to help you in the fight apart from power. He's not going to scare me physically - I think we've got under his skin mentally to this point, so I'm looking forward to being there and seeing how things go and what the result is.
"A lot of people are underestimating me because of my last two or three performances. Everyone's entitled to their own opinion, but it's just extra motivation for me to train harder and go out there and try to catch him clean."
Parker, who is undefeated in 24 bouts, is a 9-1 outsider with the British bookmakers, but said if he wins it won't be an upset.
"I feel if I win it will not be a shock. I do think it is my time and I'll come there confident in my ability. I genuinely believe I can knock him out and there is no pressure where I'm standing right now. There is no expectation on me, no pressure.
"All I'm focused on is being in great shape, training hard and doing my best to knock him out and catch his glass jaw," Parker said.
With the contract signed and the fight ready to go ahead, a press conference will soon be held in London featuring the main protagonists.