The duo have had two previous fights in the ring - the first an amateur white-collar event, while the second saw both YouTubers make their professional debuts.
A six-round majority draw was the result of the first bout August 2018, while KSI won the rematch via a split decision in November 2019.
It remains unclear as to whether the two men will enter the boxing ring again, and there was definitely a mixed reaction to the announcement on Twitter.
If this has anything to do with NFT's I'm gonna scream my lungs out https://t.co/78w5o2XnLO- Ramsay Banks (@Ramsay_SV) December 29, 2021
There were even suggestions that it could be something to do with an NFT (non-fungible token), with Paul announcing his own 'CryptoZoo' cryptocurrency project in August.
The only clues on the announcement graphic posted by KSI was that the event would take place at 1.00 PST (eight hours behind the UK), and would be hosted on Instagram Live.
This came out of nowhere and I am excited https://t.co/A2vLs2Hhdt- Lord Santa (@SantaDecides) December 29, 2021
Am I the only one who doesn't care about all these content creator fights https://t.co/B2aMWLEOJb- ✭ (@DiggsEnjoyer) December 29, 2021
But whatever happens, many feel the saga has already run its course, while others are genuinely excited to see what is going to happen in the New Year.
KSI has also turned his attention away from boxing in recent months, and largely focused on his music career.
Meanwhile, Paul contested an exhibition fight with Floyd Mayweather in June with no winner declared from the bout.
More developments in the story are sure to follow in the coming days, and it will be interesting to see what these two rivals have in store for the New Year.
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