 Haye won the WBA and WBC cruiserweight titles in November 2007
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Britain's former world cruiserweight champion David Haye will take on Russia's WBA heavyweight champion Nikolai Valuev on 7 November.
The announcement ends speculation about who Haye's next opponent would be, following reports the Londoner had agreed a bout with Vitali Klitschko.
Haye, 28, is eight stones lighter and nine inches smaller than Valuev.
He said: "David only needed a slingshot and stone to flatten Goliath, my right hand generates more power than that."
Valuev, who is 7ft 2in, has yet to be floored or knocked out in his 16-year professional career and has lost just once in 50 fights.
But Haye said: "I am thrilled to announce that my dream of becoming world heavyweight champion will be realised on 7 November, when I challenge the tallest and heaviest champion of all time.
"I can't wait to step into the ring and prove that size doesn't matter. Mark my words: I will be the first man to knock Nikolai Valuev out."
A venue for the contest has yet to be announced.
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BBC Sport's Peter Scrivener
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Haye had been scheduled to fight Klitschko's brother Wladimir in June but withdrew because of a back injury.
"There were reports in the German press that I had signed to fight Vitali Klitschko in September, but those reports were never true," he added.
"There have been long and exhausting discussions about the clash, but unfortunately I could never put my name to the fight contract the Klitschkos offered.
"The level of disrespect they have shown me throughout has left me feeling insulted."
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