UFC officials confirmed the bout on Thursday via Twitter.
Milton Vieira makes his long awaited UFC debut after spending much of his career bouncing around several regional promotions and shows.
Credited as the inventor of the anaconda choke, Vieira earned his black belt in Brazilian Jiu-Jitsu under former UFC champion Murilo Bustamante. He comes to the Octagon with a wealth of experience under his belt.
Felipe Arantes is no stranger to experience, however, as he has 18 pro fights to his credit. Unlike Vieira, he already has two fights in the UFC Octagon.
Arantes has gone 1-1 thus far in his short UFC career and most recently picked up a win over Antonio Carvalho at UFC 142 in Brazil in January.
The bout between Vieira and Arantes is the latest addition to the growing UFC 147 card headed to Rio on June 23.