The fight serves as a co-feature of the "Moment of Truth" card at the Cebu City Sports Complex staged by the Golden Boy Promotions, ALA Boxing Gym and Sammy Gello-anis SGG Sports Promotions.
The 23-year-old Viloria is expected to provide the kind of test that fans have been clamoring to get for the talented Bautista.
The Antioquia, Colombia native boasts of a record of 18 wins, 1 loss, 1 draw with 12 KOs, and holds the WBC Latino superbantamweight title.
Viloria is currently ranked WBC No. 14, WBO No. 14 and WBA No. 12 among the superbantamweights.
A victory by Bautista will send the Bohol-raised fighter into a WBO eliminator for the superbantam title against the undefeated Argentinian Sergio Medina on May 5 in the undercard of the Oscar De la Hoya-Floyd Mayweather Jr. showdown.
Medina is unbeaten with 28 wins and 16 KOs.
The Feb. 24 fight card is presented in cooperation with the city government of Cebu as it falls on the citys Charter Day anniversary.