It will be the third time both boxers will face each other.
Arum says the match, which will take place in Las Vegas, is a “done deal”.
This news will cause disappointment for British welterweight, Amir Khan, who has been trying to land a mega fight.
“It’s a done deal and it’s going to be a third fight against Timothy Bradley,” Arum told Manila Times.
“We took a lot of consideration knowing Bradley has improved a lot as a fighter since the last time they met in 2014.
“Bradley is happy about it of course and that’s really a competitive fight for Manny.”
