White broke the news to UFC Total on Wednesday. The event, UFC 196, will air on pay-per-view.
Werdum (20-5-1) unified the heavyweight championship by submitting Velasquez in the third round of a title fight at UFC 188 in June. Werdum, 38, is on a six-fight winning streak and hasn't lost since he re-signed with the UFC in 2012, following four-year run in outside promotions.
Fighting out of Kings MMA in Southern California, Werdum finished Velasquez via rear-naked choke. It was the 10th submission win of his career.
Velasquez (13-2) entered that title fight after a layoff of nearly two years. A two-time champion out of American Kickboxing Academy in San Jose, California, Velasquez first won the title by knocking out Brock Lesnar at UFC 121 in October 2010, but he has been limited to seven fights since because of multiple injuries. He lost the title to Junior dos Santos in 2011 before regaining it in 2012.
A 33-year-old former collegiate wrestler at Arizona State University, Velasquez said a lack of preparation for Mexico City's high altitude at UFC 188 had a negative effect on him in the loss to Werdum. There had been discussions about the fight landing in Brazil, but it will now take place in Nevada, White said.