The two colorful and devastating fighters are scheduled to battle separate opponents in an explosive double-header on HBO Pay-Per-View on September 10 at the Staples Center in Los Angeles, California.
Morales will tackle 1996 US Olympian and newest Top Rank star Zahir Raheem, while Pacquiao will clash with Mexican toughie Hector Velasquez in a pair of 12-round matches.
Top Rank big boss Bob Arum revealed that if Morales and Pacquiao both win, a rematch is likely to happen on December 10 at the MGM Grand Hotel in Las Vegas, Nevada, which has an option on the fight after hosting their first bout last March 19 where Morales won via close, but well-deserved unanimous decision.
Dan Rafael of ESPN.com reported that there had been talks that Morales and Pacquiao would headline a second doubleheader on HBO PPV in December before staging a rematch in March 2006.
HBO, however, wanted the highly-anticipated return bout to take place this year and Arum responded on the affirmative.
Velasquez, who is riding on the crest of a four-bout winning streak, must defeat Valtierra so as not to jeopardize his upcoming collision with Pacquiao.
The Tijuana, Mexico-native veteran boasts of victories over Marcos Licona, Ubaldo Hernandez, Armando Cordoba and Guty Espadas, who is responsible for dethroning Filipino Luisito Espinosa of the latter's WBC featherweight title in 2000.
Velasquez though lost to world title-holders Israel Vasquez of Mexico and Robbie Peden of Australia, who is among the fighters who are very vocal in their desire to challenge Pacquiao.
Raheem, on the other hand, is also scheduled for an eight-rounder bout on July 22 in Phoenix, but Arum said he would pull him off the show.
With regards to his future opponents, Pacquiao boldly told Fightnews.com that "Line them up. I am not afraid to face anyone. Bring them on."
Pacquiao is presently spending quality time with his family at his hometown in General Santos City.