The Olympic gold medallist will take on his long-standing rival in November or December.
Promoter Eddie Hearn has confirmed the fight will take place, giving Joshua not only the first chance to win a major professional title, but to avenge a defeat as an amateur.
Joshua has blown all 13 opponents away and is yet to go past three rounds, while Whyte, who had to serve two-year ban after failing a drugs test is also unbeaten, winning all 14 of his fights.
The pair fought in 2009 with Whyte winning on points and although there was no animosity, the pair fell out after London 2012, when they were both training in the Klitschko camp.
“It got a bit heated and I offered him out to fight me and then it got calmed down,” Whyte told Ringside recently.
“He explained that ‘his quotes got taken out of context, that’s not what he said’ and we were okay. I offered to spar with him before his fight with Konstantin Airich, but then he changed his mind in the evening.
“He came back and started ranting about some other stuff so there’s no love lost.”