The October 31 bout was confirmed at a WWE press conference on Friday night.
The pair previously clashed at a Smackdown Live event last week.
WWE executive vice president Paul 'Triple H' Levesque said: "Braun Strowman will step into the ring with the man who is undefeated in 30 fights, the 6ft 9in 'Gypsy King', Tyson Fury.
"This match between two larger than life athletes was ignited in a moment that captivated the entire world last Friday night at SmackDown."
Fury said: "I would like to take this opportunity to say how honoured I am to be here. It is something I have always dreamed of, being a lifelong WWE fan.
"I am undefeated in 30 professional contests and when I go to Saudi Arabia to fight Braun Strowman, I will still be undefeated. I am going there to knock Braun Strowman out."
Strowman added: "Tyson Fury is a bad dude, especially when you take into consideration what he has overcome.
"But in WWE, we don't wear gloves, you are coming into my world."
Fury is currently awaiting his rematch with WBC heavyweight champion Deontay Wilder, who has agreed to face Fury again as long as he comes through his next fight against Luis Ortiz unscathed on 23 November.
The ‘Gypsy King’ was last seen in the ring on 14 September when he scored a unanimous points victory on 14 September against Sweden’s Otto Wallin.
But on last Friday night Fury was sat ringside for WWE Smackdown Live inside the Staples Center, Los Angeles, in what was a major event for the brand as it made its debut on the Fox TV network.
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