The announcement came during a press conference Friday at the T-Mobile Arena in Las Vegas ahead of Friday Night SmackDown and the start of the 2019 WWE Draft.
The 6-foot-1 and a half, 248-pound Velasquez made his first WWE appearance on October 4, confronting and attacking Lesnar after he won the WWE Championship on an episode of Friday Night Smackdown.
The American bruiser made his first appearance on SmackDown's premiere episode on FOX last week where he launched such a vicious attack on The Beast that he made him run away in fear.
Cain Velasquez has singed a multi-year deal with WWE whereas Tyson Fury's upcoming match at Crown Jewel will be a one-off. The undefeated boxer is expected to fight Deontay Wilder in 2020, in a rematch from their December 2018 bout.
A lifelong fan of professional wrestling, Velasquez made his in-ring debut this past August for Mexico's AAA promotion at its Triplemania XXVII event.
"When I go to Saudi, I am still going to be undefeated, I am going to knock Braun Strowman out".
"He talks about how good his hands are but he's messing with a guy who has the best hands in boxing". "He don't want none of them hands".
Brock Lesnar did the same thing a few years ago, when he went on ESPN and said that he could make more money and put his body through less by choosing pro wrestling over MMA.
Strowman, whose real name is Adam Scherr, said: "Tyson heed my warning".