The two fighters have verbally agreed to the match-up according to sources speaking to MMAWeekly.com, with bout agreements issued for the March 16 showdown in Montreal. LaPresse.ca also reported on Friday that at least Diaz has already signed his agreement with St-Pierre expected to follow suit shortly. MMAFighting.com initially reported the fight earlier this week.
Twice previously, St-Pierre and Diaz have been scheduled to meet, but both times they never actually got into the cage with one another.
The first match-up ended before it began when Diaz failed to appear at a press conference and for other commitments the UFC had made for him leading up to the fight. In response, UFC president Dana White yanked him from the fight, which would have eventually changed anyways because weeks later St-Pierre ended up pulling out due to injury.
The same thing happened for their scheduled bout earlier this year when St-Pierre suffered another setback with his knee that ended with him in surgery and out for the majority of 2012.
Now with St-Pierre healthy and prepared to fight, he asked the UFC for another shot at Diaz in 2013. Diaz is still currently serving out the rest of his time for a suspension handed down from the Nevada State Athletic Commission, after he tested positive for marijuana earlier this year.
Diaz will be eligible to apply for a fight license again in February 2013, well ahead of his newly scheduled bout against St-Pierre.
The one person left on the outside looking in is welterweight contender Johny Hendricks, who had been vying for the top spot in the division with three top ten wins over the last year. Hendricks knocked out Martin Kampmann at UFC 154 to secure his place as the top contender, but the rivalry between St-Pierre and Diaz has trumped that idea.
St-Pierre and Diaz are expected to headline UFC 158 in Montreal on March 16 with the co-main event pitting Rory MacDonald against Carlos Condit.