Both fighters will look to get back into title contention following recent losses. Bisping (23-5) lost a guaranteed title shot against Anderson Silva when he suffered a second-round knockout loss to Vitor Belfort earlier this year.
The Brit had won five of his last six before the loss. Bisping holds an overall record of 13-5 in the Octagon. He has never fought for a UFC title.
Belcher (18-7) had also been a strong No. 1-contender candidate before dropping a unanimous decision to Yushin Okami at UFC 155 in December. The 28-year-old had put together a four-fight win streak ahead of the loss that included three first-round stoppages.
The UFC previously announced a lightweight bout between Jim Miller and Pat Healy and a light heavyweight contest between Phil Davis and Vinny Magalhaes for UFC 159, while a heavyweight bout between Roy Nelson and Cheick Kongo has been targeted.