The news was first reported by Brazilian news site Combate. The pay-per-view event will take place inside T-Mobile Arena.
Officials have not yet confirmed the fight or announced where it will be placed on the card. An interim lightweight title bout between Tony Ferguson (22-3) and Kevin Lee (16-2) was originally announced to headline UFC 216.
Johnson (26-2-1) was scheduled to face Borg at UFC 215 last weekend in Edmonton, but the bout was canceled just three days before the event when Borg fell ill.
Fighting out of Kirkland, Washington, Johnson is attempting to break former middleweight champion Anderson Silva‘s record of 10 consecutive title defenses.
Borg (11-2) is a 24-year-old fighting out of JacksonWink MMA in Albuquerque, New Mexico. He is 5-2 in the UFC.
Borg has had a history of pulling out of fights late. He was scheduled to face Ian McCall at UFC 203 in September 2016 but withdrew after getting sick during fight week. He has also missed weight twice.
Despite those issues, Johnson recently stated he has no heightened concerns over Borg making it to their rescheduled fight.