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Franklin checked in at 185 pounds; Le utilized the one-pound allotment for nontitle bouts and tipped the scale at 186 pounds.
Every other fighter scheduled to compete on the Saturday morning card, which will air on Fuel TV (9 ET), made weight.
Franklin, 38, who held the UFC 185-pound title from June 2005 until October 2006, will enter the Octagon with a pro record of 29-6 with one no contest.
He defeated Wanderlei Silva by unanimous decision in his most recent outing on June 23 at UFC 147.
Le, 40, is 8-2 professionally. The former Strikeforce middleweight champion is 1-1 in UFC -- he lost to Silva by TKO in his Octagon debut in November 2011, but rebounded on July 7 with a unanimous decision over Patrick Cote.
Light heavyweights Thiago Silva and Stanislav Nedkov, who will compete in the co-feature bout, weighed 205 and 203, respectively.
Silva (14-3) is winless in his past three fights, which includes a no contest against Brandon Vera at UFC 125 on Jan. 1, 2011. Silva submitted fake urine samples one day before the fight and was suspended for one year.
Nedvok (12-0) makes his second appearance in UFC. He defeated Luiz Cane by TKO in his Octagon debut at UFC 134 in August.