Maynard makes his first appearance inside the Octagon since June 2012, when he defeated Clay Guida by split decision in Atlantic City, N.J. With the win, Maynard snapped a two-fight winless skid.
A knee injury prevented Maynard from returning to action sooner. He was scheduled to face Joe Lauzon on Dec. 29 at UFC 155, but the injury limited his ability to conduct a full training regimen.
Maynard will carry an 11-1-1 professional record into the cage against Grant. The blemishes on his ledger were the result of two title fights he had with former lightweight champion Frankie Edgar.
They fought to a draw at UFC 125 on Jan. 1, 2011. Maynard was knocked out by Edgar in October 2011 at UFC 136.
During their first meeting, a nontitle affair in April 2008, Maynard controlled Edgar on the ground en route to a unanimous decision.
Grant (20-5) had been a sleeper in the 155-pound division until a first-round knockout of Matt Wiman on Jan. 26 opened the eyes of UFC officials.
He has won four fights in a row and is ranked 10th among lightweights by ESPN.com. Maynard is No. 3.
During their previous encounter on May 26, 2012, Velasquez (11-1) knocked out Silva in the first round of a nontitle bout. Silva (18-4) earned a rematch and title shot on Feb. 2 when he knocked out Alistair Overeem in the third.
Overeem entered that fight as the No. 1 heavyweight contender.