Both sides have agreed to the heavyweight matchup, which will headline UFC Fight Night on June 26 at a location to be announced.
Gane (8-0), of France, improved his UFC record to 5-0 in February, by out-pointing Jairzinho Rozenstruik in a unanimous decision. The victory was Gane's first appearance in a UFC main event. Last month, he was linked in headlined to a potential fight against Derrick Lewis, but the UFC has opted to pair him with Volkov.
Fighting out of Moscow, Volkov (33-8) will look to strengthen his own case for a UFC title shot -- something he's been working on since he signed with the promotion in 2016. He is an impressive 7-2 in the UFC, but has suffered inopportune losses to Lewis and Curtis Blaydes. He is coming off a win against Alistair Overeem in February.
The fact that Lewis (25-7) is still without an opponent is potentially noteworthy, as UFC president Dana White has indicated Lewis would receive a title shot if the UFC is unable to come to financial terms on a fight between former light heavyweight champion Jon Jones and defending champ Francis Ngannou.
Ngannou does not currently have a targeted date for his first title defense.