The unbeaten 29-year-old will be making the second defence of his British and Commonwealth heavyweight titles after knocking out Audley Harrison in the first round earlier this month.
Former British, Commonwealth and European champion Skelton boxed on the same bill in Liverpool on October 13.
The 45-year-old from Bedford showed he can still be a threat by stopping Croatian Jakov Gospic in two rounds.
Price said: "Matt was on standby in case Audley pulled out. He went through with his part of the deal so we'll go through with ours.
"I am aware he is 45, but he has won major championships and challenged for the world title.
"I have only boxed 14 times as a professional and still learning and Matt will bring something new for me."