The bout, which will air on FX, marks Maynard's first Octagon appearance since Oct. 8 when he suffered a fourth-round knockout to then-titleholder Frankie Edgar. It was the second time in a row that Maynard (10-1-1) failed to lift the belt from Edgar.
In their previous title bout at UFC 125 on Jan. 1, 2011, Edgar and Maynard battled to a draw.
Guida (29-12) looks to get back in the lightweight hunt after coming up short to Benson Henderson in a title eliminator on Nov. 12.
"Gray Maynard is still a top-three fighter in the lightweight division," Guida told ESPN.com. "A big win over him gets me right back in title contention.
"After coming off a close (unanimous decision) loss to Ben Henderson, who holds the belt now, beating a very tough opponent like Gray Maynard puts me in a very good position. It's a good fight for both of us."
Henderson claimed the 155-pound title Feb. 26 with a unanimous decision over Edgar. He is expected to make his first title defense during the summer in a rematch with Edgar.