The YouTuber-turned-boxer will take on the lightweight world champion in a bout that will be streamed on Netflix on November 14 in Atlanta.
Davis' WBA world title will not be on the line in the fight because of the vast size difference between the two men, with the social media star weighing in at 200lbs for his last bout and Davis currently competing at 135lbs.
Paul had been teasing an announcement on Instagram as he stated that "an absolute monster is coming" followed by alarm clock emojis.
He posted on the social media site: "Gervonta who has been disrespecting my name for too long.
"His nickname might be Tank, but I’m an FPV drone and I’m about to disable tiny boy.
"Yes, he’s 1 of the top pound-for-pound boxers in the world, but my motto is anyone, anytime, anyplace, against all odds. And I like my odds.
"First, I am going to kill David, then I will go on to slaughter Goliath."
The statement could be inferred as a reference to a potential bout against former heavyweight world champion Anthony Joshua - which Matchroom promoter Eddie Hearn says could be the British boxer's next bout.
He told BBC Sport: "At first I thought it was a publicity stunt from Jake and now the more I speak to them the more I actually understand - Jake Paul thinks he can beat Anthony Joshua.
"This is a step too far. So be careful what you wish for, because this isn't a game.
"This isn't YouTube. This isn't Disney. This is the danger zone."
Paul's promoter Nakisa Bidarian wants the clash to be a "straight up professional fight" and doesn't fear for the safety of his charge in the ring following the YouTuber's controversial bout against heavyweight icon Mike Tyson last year.
The Most Valuable Promotions chief said: "This would be pursued as a straight up professional fight.
"I think there's certainly an experience gap between the two of them in terms of where they're at in their career.
"From my perspective, Joshua's an active heavyweight.
"The likelihood of Anthony Joshua being able to land a heavyweight punch is much higher than what Mike Tyson had.
"I want to give Jake as much time as possible to improve on his boxing skillset to be able to effectively neutralise that main attribute of Anthony Joshua.
"My ask of him is to wait longer to do it. But when an opportunity is there, sometimes if you don't take it, it never comes back."
