Pettis (10-0) is the younger brother of injured UFC lightweight champion Anthony Pettis. He made his Octagon debut at UFC 167, where he won a unanimous decision over Will Campuzano.
Caceres (9-5, 1 NC) was struggling at featherweight, but is 4-1 with 1 no contest in the UFC since he made the move to bantamweight.
He had a victory over Kyung Ho Kang turned to a no-contest result after testing positive for marijuana. Caceres got back in the win column with a split-decision nod over Roland Delorme at UFC 165.
Former UFC lightweight champion Benson Henderson meets former Strikeforce titleholder Josh Thomson in a five-round, non-title fight in the UFC on Fox 10 main event on Jan. 25 at the United Center in Chicago.