Official content partner Knockout Radio broke the news on Wednesday’s show on MMAWeekly.com.
The event is expected to be dubbed UFC Fight Night 29 and air on the new Fox Sports 1 network.
Hamill (10-4), a contestant on the third season of The Ultimate Fighter, had called it quits in late 2011 after losing back-to-back bouts to Quinton “Rampage” Jackson and Alexander Gustafsson.
He returned after a year out of the Octagon to defeat Roger Hollett at UFC 152 last September.
Silva (15-3, 2 NC) has travelled a rocky road during his UFC tenure, twice having victories turned to no contest results due to drug testing entanglements.
He had a victory over Brandon Vera overturned when he provide a fake urine sample, and then had a Submission of the Night win against Stanislav Nedkov changed to a no contest after he tested positive for marijuana metabolites.
Silva was suspended for six months following the Nedkov bout, but has since returned and scored a first-round knockout over Rafael “Feijao” Cavalcante at UFC on Fuel TV 10 in June.
UFC Fight Night 29 is also rumored to host a welterweight fight between Erick Silva and Dong Hyun Kim.