UFC chief Dana White confirmed Jon Jones is "ready for action" in advance of his return to the octagon.
Legend Jones has not been in action for over two years since he lost his light-heavyweight title.
Jones has been working out to bulk up in order to be able compete against the UFC's heaviest hitters.
He also got into a financial dispute at the UFC.
These issues are now over, as White confirmed Jones' readiness to fight again in the Octagon. He will face Francis Ngannou and Stipe Miocic.
White said to Jim Rome, "Jon Jones has been released. We just need to find an opponent.
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"It will be Francis [Ngannou] or Stipe Mocic depending on how long it takes for his knee to heal."
Since his March title loss to Ngannou, Miocic has not fought.
However, it is believed that Jones agreed to be fought by Miocic in September.
Ngannou's future at the UFC remains uncertain.
SUN BINGO GET PS50 BONUS & 50 FREE SPINS TODAYCameroonian 35-year-old wants to fight Tyson Fury, WBC World Heavyweight Champion, in an exciting exhibition boxing match.
White opposes Ngannou's switch, and the UFC is reluctant to let him go as a free agent at year's end when his contract expires.
Ngannou is still a few months away.
After his title defense against Ciryl Gane, he underwent knee surgery.
Ngannou stated that next week, they will likely have a sit-down to talk and get a better idea of where they are at the moment.
"We must have direction in order to know where to go."
