The pair will duel in the ring on the undercard to Dillian Whyte's highly-anticipated fight with Joseph Parker at the O2 on July 28.
Chisora, 34, has a point to prove following his defeat against Agit Kabayel in November for the European heavyweight title.
And he knows a victory against Anthony Joshua's old opponent could give him another opportunity for a title shot.
Boxing fans will be licking their lips at the prospect of a host of big names on the undercard.
Kell Brook, Joshua Buatsi, Conor Benn and Katie Taylor are all in action before Whyte's fight with Parker.
Promoter Eddie Hearn said of the fight: "I’m delighted to get another big heavyweight clash over the line for July 28 – this is a great fight,
“For Del Boy, it’s a real last chance saloon at World level and for Takam it’s a chance to push for another World title shot after a string showing against AJ. July 28 is going to be a huge night of boxing at The O2.”
Takam was drafted in as a late replacement to face Joshua but held his own before the fight was stopped in the tenth round.
He also pushed Parker close in 2016 before losing by unanimous decision.