The 145-pound bout will take place at UFC 262 on May 15. The UFC has not announced an official venue for the pay-per-view event.
In addition to the bout, Barboza (21-9) has signed a new deal with the UFC. The Brazilian fighter had expressed interest in testing free agency in 2021 but ultimately elected to sign an extension with the promotion he has fought for since 2010.
"We've renewed with the UFC, with the understanding Edson wants to be extremely active," Barboza's manager Alex Davis told ESPN. "We believe Edson has a good chance to be a contender at featherweight. All the conditions are there now. It's up to the UFC to give him fights that make sense, and it's up to Edson to win those fights."
Burgos (13-2), of New York, shared his excitement on the matchup.
"This is the one," Burgos told ESPN. "I only want big fights, and this one feels huge. Everyone knows Edson. I've been watching him fight in the UFC since I was fighting amateur. I plan on making the absolute most out of this opportunity."
Burgos is coming off a decision loss to ranked contender Josh Emmett in June, which was his only appearance of 2020. Before that setback, the 29-year-old had won three in a row.