The 54-year-old Tyson last fought professionally in 2005 when he was beaten by Irishman Kevin McBride in what was his sixth loss in 58 career contests.
Meanwhile, Jones, 51, has not fought since beating Scott Sigmon in February 2018.
The California State Athletic Commission has sanctioned the fight, which will be over eight rounds and broadcast on pay-per-view.
Tyson had shared filmed pad workouts on social media
Tyson recently fuelled rumors of a comeback when he shared filmed pad workouts on social media.
It was a five-second clip but it unsurprisingly became a viral hit.
Celebrities from boxing, MMA and entertainment were quick to voice their admiration.
Tyson later said he was interested in returning to the ring to raise money for charity.
There will be pre-fight footage leading up to the bout
As per Reuters, Triller has also obtained streaming rights to a 10-part docuseries featuring behind-the-scenes, pre-fight footage leading up to the bout. The program will also include a "significant" undercard as well as musical performances.
Details about Tyson's career
Tyson took part in 58 professional fights in his career. He enjoyed 50 wins and suffered six losses, with two no contests. In his last five fights, Tyson suffered three losses. He retired in 2005 after a loss to Kevin McBride.