The 33-year-old-fighter and Crawford, 36, will face off for the undisputed super-middleweight titles in a bout to be streamed globally on Netflix.
He said: “On September 13, I’m ready to show once again that I am the best pound-for-pound fighter in the world.”
The fight will be promoted by UFC president Dana White, 54, marking his first foray into boxing promotion.
The announcement was made after weeks of shifting details and uncertainty, and will take place in Las Vegas, though not at the planned £1.5 billion home of the Las Vegas Raiders, which is booked for a college football game that weekend.
Broadcast rights to the clash and the promotional lead for the fight had been in flux following claims by Saudi boxing chief Turki Alalshikh, 43, that Riyadh-based firm Sela would be handling the event, with the location possibly shifting to New York or Los Angeles.
Alalshikh posted: “We have confirmed the promoter for Canelo vs. Crawford will be Sela for Riyadh Season. The broadcaster we have not decided yet but the date will be Saturday 13th September. More details soon.”
The Alvarez v Crawford clash will now go ahead under the TKO Holdings umbrella – the parent company of both UFC and WWE – which this year entered into a multi-year partnership with Alalshikh to create a UFC-style boxing league and promote two super-fights annually.
And the fight will serve as the first bout under that initiative.
Alvarez reclaimed his IBF title in May with a win over William Scull in Saudi Arabia, becoming the undisputed champion at 168lbs once again.
Crawford, undefeated across four weight divisions, has not fought since defeating Israil Madrimov for the 154lb title in August 2023.
He said: “My perfect record speaks for itself. I am the best fighter in the world and no matter the opponent or weight class, I have always come out on top. On September 13, my hand will be raised once again as the world watches greatness.”
Dana White confirmed his renewed role in the promotion during media rounds following UFC 316 in Newark.
He said: “I’m promoting the fight. I’ll let you guys know when it’s time to let you guys know.”
