Nick Diaz
Nick Diaz is set to make his long-awaited return to the octagon. In this picture, Diaz stands in the Octagon after taking a hit from Anderson Silva in a middleweight bout against Anderson Silva during UFC 183 at the MGM Grand Garden Arena in Las Vegas, Nevada, Jan. 31, 2015. Steve Marcus/Getty Images

Former UFC welterweight title challenger Nick Diaz (26-9-2) is set to make his long-awaited return to the octagon next year, according to president Dana White.

As reported by ESPN, Diaz has agreed to a return fight with Jorge Masvidal (32-11) at UFC 235 which takes place March 2 at the T-Mobile Arena in Las Vegas. Sources further state that while the contracts have not been signed as of yet, it is extremely close to being finalized.

It serves as another boost for the UFC who last month saw the return of Conor McGregor while former heavyweight champion Brock Lesnar is expected to face Daniel Cormier for the heavyweight title early next year.

Diaz, the older brother of Nate, is a fan favorite, having last fought at UFC 183 when he lost a unanimous decision to former middleweight champion Anderson Silva. The fight was later overturned into a no contest when both fighters failed drug tests.

The 35-year-old has since gained eligibility to fight in the UFC again as of April earlier this year, and has been called out by a number of fighters, including welterweight champion Tyron Woodley, who view him as a legacy fight.

Masvidal will be the one who likely gets the fight though, having revealed to ESPN recently that the fight was offered to him as he looks to make his own return to the octagon.

"The UFC offered us Nick Diaz and obviously we said yes," Masvidal said recently. "I would have loved to fight Nate, too -- just because those guys are studs, man. All will."

"They don't have the most skills in the division, but they have maybe the most will. You can beat the s--t out of them -- pain, fatigue -- it doesn't matter. And I've got a lot of those same qualities. My fan base knows I'm going in there to die trying," he said.

Masvidal was close to a shot at the welterweight title last year but would lose a split decision to Demian Maia at UFC 211, who would then go on to challenge Woodley in a losing effort at UFC 214.

The Cuban-American would then lose a unanimous decision to Stephen "Wonderboy" Thompson at UFC 217 and has not fought since due to injury as well as an appearance on a Spanish-language program.

Given his brawling style, a fight with Diaz is one that would greatly excite fans.

Diaz meanwhile, has not won a fight since 2011, and notably lost a unanimous decision to Georges St-Pierre during their welterweight title fight in 2013. He was previously a welterweight champion for Strikeforce and was on an 11-fight win streak from 2008 to 2011.

As it stands, a Diaz vs. Masvidal fight is the only one slated for UFC 235. With main events still not confirmed for UFC 233 or 234, the start of 2019 is already one to look forward to.