"Aldo hasn't lost in over five years, but Mendes has yet to lose in MMA, and after clearing out all the contenders put in his way, he believes he has what it takes to beat the champion," White told the website.
Aldo (20-1) will be making the fifth defense of his title. In his most recent defense, on Oct. 8 at UFC 136, Aldo defeated Kenny Florian by unanimous decision.
Mendes is the No. 2-ranked featherweight, behind Aldo, by ESPN.com. He is 11-0.
"Chad Mendes has earned his shot at the title and he's going to face one of the greatest featherweights of all time," Aldo's manager, Ed Soares, told ESPN.com. "It's going to be a great fight. It's going to be fireworks."
Franklin McNeil covers mixed martial arts and boxing for ESPN.com. Follow him on Twitter at www.twitter.com/Franklin_McNeil.