The promotion announced the bout on April 4 and said the event will take place in late June.
Stevenson faced B.J. Penn for the lightweight championship at UFC 80, losing by second round submission. He lost his last three fights, including a decision to Danny Castillo at UFC on Versus 3, prompting speculation about whether he would be released from the UFC with a record of 8-7.
Vazquez is also in need of a win after going 2-3 in the WEC prior to the Zuffa-owned organization’s merger with the UFC. In his last fight, Vazquez dropped a unanimous decision to undefeated contender Chad Mendes.