MMAJunkie.com reported the bout -- scheduled for TD Garden in Boston -- earlier.
Overeem, ranked No. 6 among heavyweights by ESPN.com, was scheduled to fight former UFC titleholder Junior dos Santos at UFC 160 in Las Vegas on Saturday night. But he withdrew from the contest after suffering an injury.
After withdrawing from the dos Santos fight, Overeem tentatively was slated to compete Aug. 31 at UFC 164 in Milwaukee -- an opponent, however, never materialized.
Overeem (36-12, one no contest) will seek to get back in the win column against Browne. In his most recent fight, Feb. 2 at UFC 156 in Las Vegas, the former Strikeforce heavyweight titleholder was knocked out in the third round by Antonio "Bigfoot" Silva.
The loss snapped Overeem's unbeaten streak at 12.
Overeem entered the bout with Silva as a heavy favorite. A win would have secured a title fight for Overeem against champion Cain Velasquez. Instead, Silva will face Velasquez on Saturday for the title.
Browne, who suffered the first loss of his professional career in October 2012, rebounded April 13 with a first-round knockout of Gabriel Gonzaga.
Browne has a mixed martial arts record of 14-1-1, including 10 victories by knockout.