Australian MMA superstar Alexander Volkanovski will make his long-awaited return to the octagon to take on Diego Lopes for the undisputed featherweight title at UFC 314 in Miami.

Volkanovski hasn't fought in 14 months since suffering a knockout loss to Ilia Topuria at UFC 298 in California.

Alexander "The Great" is seeking two-time champion status and while most assumed that shot would come in a rematch against Topuria, Lopes is arguably the hottest fighter in the division outside of "El Matador".

The Brazilian burst onto the scene in mid-2023, earning five wins in 13 months to catapult himself into the featherweight title picture.

His most-recent effort was a three-round beatdown of Brian Ortega at UFC 306.

Less than two years into his UFC career, Lopes will challenge arguably the greatest featherweight of all-time for the belt on April 12.

Volkanovski is in unfamiliar territory having lost two on the bounce by knockout and three of his past four.

But the hyperactive 36-year-old has beaten everyone except Topuria and Islam Makhachev, and he is keen to regain his crown after more than a year out of competition.

UFC boss Dana White revealed in Thursday's announcement Topuria was vacating the featherweight title and his next fight would be announced on a later date.

The Georgian Spaniard will be the champion until the first round starts in Miami.