UFC held its 25th anniversary quarterly press conference on Friday in Los Angeles leading into the UFC 227 event set to take place this weekend in the Staples Center.
And the Irishman hasn't competed at all since losing his lucrative boxing match against Floyd Mayweather in August 2017.
For McGregor (21-3), it will be his first MMA fight in almost two years and first time in fighting action since his professional boxing debut during a heavily-hyped fight against Floyd Mayweather Jr. last August - which he lost via TKO in the 10th round.
McGregor ultimately received a plea deal and was sentenced to five days of community service and ordered to attend anger management courses.
Nurmagomedov claimed the vacant belt by defeating Al Iaquinta - a late stand-in after the withdrawals of Tony Ferguson and Max Holloway - by unanimous decision, and his first defence will be against McGregor.
Of the six highest selling UFC PPVs, McGregor has featured in four of them and the bad blood between him and Nurmagomedov could ensure all records are broken.
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With ticket prices expected to be insane, especially on the secondary market, you've got to believe UFC President Dana White's phone will be blowing up with requests from friends.
Nurmagomedov has been one of the pound-for-pound greats of MMA, racking up 10 consecutive victories since joining the UFC.
Earlier in the news conference, the UFC also promoted the long-awaited return of Nate Diaz, who memorably split two bouts with McGregor in 2016.
The bout, which will take place at UFC 229, is already being talked about as one of the fights of the year and promotional video for the fight has broken the internet in predictable style.
"It's time to roll", Diaz said following his own two-year absence.
As it played, Diaz abruptly left the presser he was at and tweeted "I'm not fighting on that show (expletive) the UFC".