Aussie UFC featherweight champion Alex Volkanovski will officially move up in weight to challenge lightweight champ Islam Makhachev in the main event of UFC 284 at Perth's RAC Arena next year.

Volkanovski would become the first Australian to hold two UFC titles simultaneously if he wins the champion vs champion showdown over the newly-crowned Russian on February 12.

He is already regarded as the top pound-for-pound MMA fighter on the planet, and if he beats Makhachev he will join the likes of Conor McGregor, Daniel Cormier, Amanda Nunes as simultaneous multi-division champs.

'New weight, same goal. Nothing better than fighting on home soil, I'm ready to prove the doubters wrong,' Volkanovski told News Corp.

'I can't wait to make history in front of all the Aussie fans.'

The 33-year-old Wollongong native is coming off a stunning performance against all-time great Max Holloway in July and is currently riding a 22-fight win streak - having not lost an MMA fight since 2013.

Makhachev is on an 11-fight win streak and is coming off an impressive submission win over Charles Oliveira to win the lightweight strap and progress to third in the pound-for-pound rankings.

Both champions have welcomed the bout from the start, with the pair going face to face in the Octagon after Makhachev's last victory in Abu Dhabi at UFC 280.

Makhachev will likely go into the bout as the favourite due to his size advantage and incredible grappling skills.

'Volkanovski is tough. He has good skills, good striking, but he's small for this division, I think. He wants to jump to 155. Let's do this. This weight class is not his level,' said the Russian after his last fight.

The Aussie is working hard to bulk up in size for the new weight class - but doesn't think he will be at a strength disadvantage.

 'We got the dietician working on the plan. I've got strength and conditioning happening and I'm eating over 4,000 calories a day, which is hard,' Volkanovski told reporters in New York on Thursday.

 'I never thought I'd complain about eating too much food.

 'It's going to be like a David and Goliath, because everyone thinks he's the strongest man on the planet, best grappling anyone has ever seen.

'The way they're talking about him - it's just going to look incredible when I get the job done.'

A victory over Makhachev would see Volkanovski become only the second man in history to simultaneously hold the UFC featherweight and lightweight titles after Conor McGregor.

And the New South Welshman suggested a blockbuster showdown against the Irishman could also be in the offing in the near future.

'That [fighting McGregor] is next then, right?' Volkanovski said.

'Let's make that happen after that. [...] There's only been four champions in the featherweight division. The only one I haven't fought is Conor McGregor.

'I can beat that guy, too.'

Volkanovski is the sixth Aussie to be announced on the exciting UFC 284 card so far that also features former middleweight champion Robert Whittaker.