UFC Tonight announced the 155-pound matchup on Wednesday. UFC 232 will take place at T-Mobile Arena in Las Vegas.
Penn (16-12-2) hasn't fought since he suffered a majority decision loss to Dennis Siver in June 2017. He has suffered five losses in a row, dating all the way back to October 2011. He retired for a 30-month stretch between 2014 and 2017.
Originally from Hilo, Hawaii, Penn is considered one of the best lightweights in the history of the sport. Oddly enough, however, this will be the 39-year-old's first lightweight fight since a title bout against Frankie Edgar in August 2010.
Hall (6-1), of Falls Church, Virginia, is a former winner of The Ultimate Fighter reality series, and he holds a 2-0 record in the UFC. A grappling specialist, Hall has not fought since December 2016.
The 33-year-old has publicly stated numerous times he is only willing to accept meaningful fights. The UFC has had difficulty matchmaking Hall, at times, due to his high level of expectation and unique fighting style.