"Koscheck vs. Johny Hendricks is on for Fox," White said on Twitter.
White did not specify a date for the fight, but UFC's next event on Fox is slated for May 5 in East Rutherford, N.J.
Hendricks (12-1) put himself in the 170-pound title discussion on Dec. 30 when he knocked out perennial contender John Fitch at UFC 141. He has won three fights in a row.
Koscheck has won two straight fights since suffering a lopsided unanimous decision loss to champion Georges St. Pierre at UFC 124 on Dec. 11, 2010.
During that loss, Koscheck suffered a broken orbital bone and was sidelined for nine months.
But when he returned to action this past September, Koscheck immediately reclaimed his status as a top welterweight contender by knocking out former titleholder Matt Hughes in the first round.
In his most recent outing, Kocheck (17-5) struggled to earn a split decision over Mike Pierce at UFC 143.
Koscheck and Hendricks are among the top contenders at 170 pounds. Neither, however, will get a shot an interim champion Carlos Condit.
"Condit will wait for GSP, now that (Nick) Diaz is out," White told ESPN.com.
Condit claimed the interim belt Feb. 4 with a disputed unanimous decision over Nick Diaz. The winner of that fight was guaranteed a unification bout against St. Pierre.
But with St. Pierre not expected to return until November, at the earliest, there was talk of a Condit-Diaz rematch. Nick Diaz, however, tested positive for marijuana after the bout, eliminating the possibility of a rematch this year.
Franklin McNeil covers mixed martial arts and boxing for ESPN.com. Follow him on Twitter at www.twitter.com/Franklin_McNeil.