White said a date and location are not set.
Cejudo, a former two-division champion, announced his retirement after successfully defending the bantamweight title against Dominick Cruz at UFC 249 earlier this month. On Monday, the UFC said Cejudo is officially considered retired, and the bantamweight belt was vacated.
Aldo (28-6) is one of the greatest fighters in MMA history. The native of Brazil held the WEC/UFC featherweight title until 2015, a span of six years, with nine successful title defenses. Aldo, 33, is coming off a split-decision loss to Marlon Moraes at UFC 245 in December, though it was close, and many say Aldo won.
Aldo would have fought Cejudo for the title this spring, but coronavirus-related travel restrictions prohibited him from entering the United States. Cruz, the former bantamweight champ, stepped in instead.
Yan (14-1) has won nine straight fights, including his first six victories in the UFC. The Russian native is coming off a third-round knockout of Urijah Faber at UFC 245 in December. Yan, 27, is considered one of the top up-and-coming fighters in MMA.