UFC officials confirmed the news to ESPN.com following an initial report by Brazilian news source Globo.
The second season is expected to begin filming in early 2013 and debut on Brazilian television in March. Tryouts were held earlier this year in Rio de Janeiro.
The Brazilian heavyweights will face off in the Octagon at the end of the season, although no date has been announced. It will be the second meeting between the two. Nogueira defeated Werdum via unanimous decision during a PRIDE open-weight grand prix in 2006.
Nogueira (34-7-1) returned from a 10-month injury absence this month with a second-round submission win over Dave Herman at UFC 153. The former UFC interim champion coached on the U.S. edition of TUF in 2008 against Frank Mir.
Werdum (16-5-1) has won back-to-back fights in the UFC after transferring from Strikeforce early this year. He appeared on TUF Brazil 1 as an assistant coach.