The two lightweight veterans have 13 combined Fight of the Night awards and 60 victories together in the octagon.
Both fighters are 3-3-0 in their last six bouts.
“J-Lau”, 33, is looking to return to the win column after losing a majority decision to Steven Ray at UFC Fight Night 108 in April.
“The Carpenter,” 35, decisioned Erik Koch in his last bout at UFC Fight Night 112 in June.
UFC Fight Night 120 is scheduled for Nov. 11 at the Ted Constant Convocation Center in Norfolk, Virginia.
The card currently includes:
Anthony Pettis (20-6-0) vs Dustin Poirier (21-5-0)
Junior Albini (14-2-0) vs Andrei Arlovski (25-15-0)
Joe Lauzon (27-13-0) vs Clay Guida (33-17-0)
Court McGee (18-6-0) vs Sean Strickland (18-2-0)
Karl Roberson (5-0-0) vs. Darren Stewart (7-1-0, 1NC)
Cezar Ferreira (11-6-0) vs Nate Marquardt (35-18-2)
Diego Sanchez (27-10-0) vs Matt Brown (20-16-0)
Angela Hill (7-3-0) vs Nina Ansaroff (7-5-0)
More bouts are expected to be announced.