However, Costa was forced to undergo bicep surgery late last year, which ruled him out for months and saw Yoel Romero jump the queue for the first shot at Adesanya's throne.
The bout between Adesanya and Costa will be among the most anticipated of the year, with both fighters come in with no losses on their records.
Both fighters are also known for their knockouts. Adesanya has won 14 of his 19 fights by stoppage, while Costa boasts 11 knockouts and one submission in 13 career wins.
Costa hasn't fought since August 2019, when he beat Romero via unanimous decision.
Adesanya won't be the only Kiwi to fight on that date, with City Kickboxing teammate Kai Kara-France also officially confirmed for the card against Brandon Royval in a match-up between two of the top 10 in the flyweight division.
Kara-France hasn't fought since a comfortable unanimous decision win in Auckland in February, his ninth win in his past 10 fights, and meets a grappling specialist in UFC newcomer Royval.
Royval made a statement in his UFC debut, taking out the highly ranked Tim Elliott by submission in a Fight of the Night performance.