The former WBA super-bantamweight champion’s promoter Eddie Hearn has confirmed the talks are close to completion.
“We are close to finalising a deal for Scott Quigg to face Oscar Valdez for the world title.
“Hopefully we will get it over the line, it will be an unbelievable fight.”
It is understood that only minor details now need to be completed with the contracts ready to be signed in the coming days.
The fight will take place outdoors at the StubHub Center in Carson, just outside of LA in California.
Quigg, 29, has not fought for a world title since he suffered his first defeat in a unification clash with Carl Frampton at super-bantamweight in 2016.
The Bury-born boxer has since returned to the ring with three wins on the trot after moving up to the the 9st division and split with former trainer Joe Gallagher to link up with legendary coach Freddie Roach.
Mexican Valdez, 27, is unbeaten in 23 fights and will be making his fourth defence of the WBO title.