UFC president Dana White announced the news on Sunday. The series premieres on Sept. 9 on Fox Sports 1. McGregor and Faber will not fight at the conclusion of the season, as is usually the case with TUF coaches.
McGregor (18-2), who defeated Chad Mendes to win the interim title on Saturday, will lead Team Europe -- a group of eight lightweights. Faber (32-8) will spearhead Team USA.
The two have a very brief history. Faber is a longtime teammate of Mendes. At the UFC 189 weigh-in, cameras caught a very short confrontation between Faber and McGregor backstage. McGregor, who was cutting weight, appeared agitated when Faber playfully grabbed his torso.
The reality series is not expected to interfere with a highly anticipated 145-pound title fight between McGregor and seven-time defending champion Jose Aldo (25-1).
UFC CEO Lorenzo Fertitta told ESPN.com on Saturday that fight will "probably" take place on Jan. 2, although Dec. 5 is also a possibility. The fight is expected to take place in Las Vegas.