Officials announced the switch on Tuesday. The UFC Fight Night card will take place at Sasktel Centre in Saskatoon, Canada. The new 170-pound contest will serve as the co-main event.
Magny (15-4) is just 10 days removed from his first loss in nearly two years. The Denver-based welterweight submitted to a rear-naked choke in the second round of a fight against Demian Maia at UFC 190 in Rio de Janeiro.
The loss snapped a seven-fight win streak for Magny. The 22-day turnaround will be the quickest of Magny's UFC career, although he has fought twice in a 13-day span outside of the organization.
Silva (18-5) is coming off back-to-back wins for the first time in his UFC career. The 31-year-old Brazilian has flashed major potential inside the Octagon, but has been relatively inconsistent in posting an overall UFC record of 6-4.
The Silva-Story bout was originally scheduled to take place on June 27, but was postponed due to visa issues. Story (18-8) will have to wait to try to build on the momentum of an upset win over Gunnar Nelson in October.