Golden Gloves promoter Rodney Berman has said they agreed in principle and were considering a “list of heavyweights” to face the 48-year-old American.
“Rodney is in talks with Holyfield's lawyers and they're trying to bring him out here for a fight at Emperor's Palace later this year, probably in November,” Golden Gloves spokesman Brian Mitchell said on Wednesday.
Berman was in contact with WBF president Howard Goldberg in April regarding a possible match-up between Holyfield and heavyweight prospect Flo Simba.
Simba, however, was stopped in the sixth round by fellow-South African Francois Botha at Emperors Palace in June.
Six weeks later, Botha, 42, said he hoped for a rematch against Holyfield in Durban in October, and wanted to promote the fight himself.
Botha, who has fought the likes of Mike Tyson, Lennox Lewis and Wladimir Klitschko, was stopped by Holyfield in the eighth round in Las Vegas in April 2010.
Mitchell said there was still a possibility that the White Buffalo could face Holyfield for the second time.
“Rodney thinks the draw card is Holyfield, so he's trying to get him to sign on the dotted line,” Mitchell said.
“If Botha comes to the party, then it will be Holyfield versus Botha.”