The UFC women's flyweight title will be defended for the first time in September.
Montaño became the inaugural women's 125-pound champion at the The Ultimate Fighter 26 Finale in December after defeating Roxanne Modaferri via unanimous decision. She went 3-0 on "The Ultimate Fighter" reality show defeating Lauren Murphy, Montana De La Rosa and Barb Honchak en route to earning the title shot.
Shevchenko is 1-0 since moving down to flyweight after going 3-2 as a bantamweight. She defeated Priscila Cachoeira via second-round rear-naked choke in February after losing a bantamweight title fight to champion Amanda Nunes last year at UFC 215.
The event is scheduled for the American Airlines Center in Dallas. According to sources, the promotion is still working on finalizing a main event for the card.