UFC 146 already boasts a UFC heavyweight championship match, and now it will determine the No. 1 contender, too.

A long-rumored bout between Frank Mir and Cain Velasquez has finally been agreed to, and according to FoxSports.com, the victor will face the winner of the night's main event pitting Junior dos Santos against Alistair Overeem.

Mir (16-5) will walk into the octagon with the more momentum of the pair, riding a three-fight win streak. In his most recent bout, he earned a technical submission win over Antonio Rodrigo Noegueira at 140. Prior to that he had wins over Roy Nelson and Mirko "Cro Cop" Filipovic.

Velasquez, meanwhile, will be hoping to rebound from his first career loss, dropping the belt to dos Santos at UFC on FOX 1 last November.

The early line on the fight has Velasquez as a 4-to-1 favorite, likely because his wrestling should allow him to determine the location of the fight, thereby limiting Mir's submission opportunities.

UFC 146 takes place on May 26 in Las Vegas at the MGM Grand Garden Arena. Aside from the two aforementioned bouts, other fights include Roy Nelson vs. Antonio Silva, Jason "Mayhem" Miller vs. C.B. Dollaway and Dan Hardy vs. Duane Ludwig.