South Australia will host the long-awaited boxing fight between Australian boxers Anthony Mundine and Danny Green.

Sport and Tourism Minister Leon Bignell said the bout would happen on February 3 at Adelaide Oval.

"We are delighted to have the fight coming here," he said.

"We will have 37,000 people at the Adelaide Oval and it will be the biggest fight in Australian history in terms of crowds."

He said a number of other cities across Australia wanted to host the fight, which was expected to pump millions of dollars into the State's economy.

"We were up against Sydney, Brisbane, Melbourne and Perth," Mr Bignell said.

"Everyone wanted this fight, it's the biggest fight between the two biggest names of our generation in terms of boxing."

The fight will be a grudge match following the Green-Mundine clash in Sydney in 2006 which attracted 30,000 fans.

Mundine won that fight on points.

Verbal sparring at media conference

At a media conference in Adelaide, the two fighters were quick to continue their verbal battle as they talked themselves up.

"It's been a great rivalry for a long time, obviously me and Danny don't see eye-to-eye," Mundine said.

"When we get in the ring, speed beats power, skills pay the bills.

"I'm going to show him again that I'm going to be as sharp as I was in 2006 ... he's a limited fighter."

Green said he couldn't wait to get back in the ring against his rival.

"The first fight was a monster affair, it was the biggest fight in Australian boxing history and I'm sure without doubt this fight will eclipse that," he said.

"Australians all let us rejoice, cos this bloke's about to get a proper tune-up."

Both boxers said the bout would probably be their last fights and both praised Adelaide Oval.

The Government would not reveal how much taxpayers' money was used to lure the bout to South Australia.

"We can't actually disclose that, that's the promoter's wish, they're the rules that every state and territory play by," Mr Bignell said.