JON Jones is set to return to the Octagon.

After another stint on the sidelines, due to a failed pre-fight drug test, the man who’s regarded as one of the greatest fighters of all time will fight again, in a rematch of arguably the greatest battle the UFC has ever seen.

According to ESPN, Jones will fight Alexander Gustafsson at UFC 232, set for December 30 (AEDT) in Las Vegas, for the light heavyweight title. Daniel Cormier, the current champion, is expected to be stripped of his belt, because he’s also the holder of the heavyweight title.

The fight between Jones and Gustafsson will be a rematch of their bout at UFC 165 back in September, 2013, when the pair put forward a bloody show, with Jones retaining his belt via decision. That fight is seen as one of the most entertaining in the organisation’s history.

Jones’ last fight was a win over Cormier at UFC 214 but it was overturned after the failed drug test; not the first blemish of his career.

In January of 2015, Jones tested positive for metabolite of cocaine, before running a red light and crashing his car into two vehicles in April. Before his UFC 200 fight with Cormier, he tested positive for two banned substances.

The 31-year-old could’ve faced a sentence as long as four years for his latest incident, but it was found that he unknowingly took the illegal substance, so he’ll be eligible to fight in November.

Notwithstanding the substance issues, Jones has put together an impressive career, with a record of 22-1, 1 NC, and will headline a main card for the first time in more than a year.

Gustafsson (18-4) is also an extremely accomplished fighter, and has been a legitimate competitor for the light heavyweight title, including his 2013 fight against Jones.

The announcement of this fight — what ESPN is calling ‘arguably the best fight in UFC history’ — is yet to come, but when it does, it’ll add another high-profile bout to a card that already features a much-anticipated matchup between UFC featherweight champion Cris Cyborg and bantamweight champ Amanda Nunes.