For some time, it appeared that the two-time unified champion would be facing off against long time rival Tyson Fury, in what would be one of the biggest fights in the sport's history.
However, a court of arbitration in the United States ruled that the Englishman must face Deontay Wilder for a third time, giving Usyk the green light to have his first heavyweight title bout of his career as the WBO mandatory challenger.
Joshua retained his WBA (Super), IBF, WBO and IBO belts in just one fight at the expense of Andy Ruiz Jr, after the Mexican secured one of the most shocking victories of all time in Madison Square Garden, New York City.
Usyk, 34, is a former world champion at cruiserweight and, most notably, knocked out Tony Bellew in spectacular fashion before the Ukrainian brute stepped up to the highest weight class in boxing.
The southpaw fighter is currently unbeaten with 13 wins by knockout from 18 bouts and 18 victories, putting his record on the line against a man who has inflicted 22 KOs from 25 fights.
Who is the favourite to win?
Here are the odds that are being offered by various bookmakers:
Anthony Joshua: 3/10
Oleksandr Usyk: 9/4
So it looks like Joshua is favoured among many to come out on top and leave the ring as the heavyweight champion.
However, after his mishap against Ruiz Jr a few years ago, there is no ruling out Usyk at any point and it would not come as a surprise to many if the Ukrainian were to win the fight.
Whatever happens, it will add up to what will be an exciting night of boxing.
We will update this article weekly as the fight draws closer.
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