The fight was officially announced by UFC CEO Dana White.
Paulo Costa, 32, last fought last August, winning a three-round unanimous decision over former division champion Luke Rockhold. The Brazilian was scheduled to return to the octagon on October 21 at UFC 294 in Abu Dhabi, but pulled out of his bout against Khamzat Chimaev due to a staph infection.
Robert Whittaker, 33, was defeated in July in a challenger bout, losing to Dricus Du Plessis by technical knockout in the second round.
Whittaker and Costa were scheduled to meet at UFC 284 in Perth last year, but the bout was canceled due to protracted negotiations over the Brazilian’s new contract.
Robert Whittaker and Paulo Costa are currently ranked third and sixth in the UFC middleweight rankings, respectively.