Contracts for the fight between the South African and the legendary four-time world heavyweight champion had been signed.
Promoters Eddie Bazira and Baltic Pro Box Promotions, in association with Real Deal Events and other parties will present the fight that could draw up to 80 000 spectators.
Holyfield is 47 years old and has a record of 47-10-2, with 27 knockouts. Botha is 41 and stands at 47-4-3; 28.
The American veteran lost a controversial decision to Russian giant Nikolay Valuev for the WBA belt in December last year.
He hopes victory over one-time IBF champion Botha will put him line to challenge one of the Klitschko brothers.
Botha failed to impress in his most recent fight, in October this year. He battled to a draw with novice Pedro Carion of Cuba.
The promoters are planning to have six title fights on the card.
Another heavyweight fight has been sealed. Cristobal Arreola will take on Brian Minto over ten rounds in Atlantic City on December 5.
Arreola (27-1; 24) will return to the ring for the first time since losing to Vitali Klitschko. Minto's record stands at 34-2; 21.
On the undercard, Paul Williams will fight WBC super welterweight champion Sergio Martinez in a middleweight bout over twelve rounds.