UFC officials confirmed the bout, first reported by Fox Sports.
Both men are riding impressive winning streaks heading into the fight.
Green (20-5) has won five consecutive bouts, including his promotional debut against Jacob Volkmann at UFC 156.
Green is a Strikeforce transplant. He fought five times during his tenure here, losing only once, and that was a split decision loss to veteran fighter Gesias “JZ” Cavalcante.
Krause (20-4) has won eight straight fights, including all five of his bouts for RFA. He also has just one UFC fight under his belt, having submitted Sam Stout at UFC 161 in June.
UFC Fight for the Troops 3 takes place on Nov. 6 at Fort Campbell, Ky.