The American, who took the WBC light-welterweight belt on a split decision from Witter a year ago, has decided to give it up and focus on the winner of this weekend's showdown between Ricky Hatton and Manny Pacquaio.
That opens the way for the Bradford fighter to face number one contender Devon Alexander, who has won all 24 of his professional fights - 11 inside the distance.
Witter said: "Alexander is a decent and aggressive fighter but he's also a southpaw, which will suit me. He's no mug but I'm happy.
"With the way things have been going the last seven or eight months, I'm not surprised to get this fight. I want to get my title back and be world champion again this year."
Witter has fought only once since losing to Bradley in Nottingham, knocking out Victor Castro in three rounds.
Talks are underway and purse bids will take place on May 22 if the two camps cannot agree negotiations.
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