Australian welterweight Jeff Horn's dream fight with Manny Pacquiao has been officially locked in with an announcement on the July 2 blockbuster due on Sunday.

Fairfax Media reports details were set to be released after the final paperwork for the bout was signed off by all relevant parties.

Horn (16-0-1, 11 KOs), a 29-year-old former schoolteacher, will meet boxing icon and current WBO welterweight world champion Pacquiao at Brisbane's Suncorp Stadium.

A capacity crowd of more than 50,000 is likely for one of the biggest fights in Australian boxing history.

Horn's promoters Duco Events have been working away at the deal since January, when they held a press conference to announce the 2012 London Olympian had signed a provisional deal to take on Pacquiao.

But the Filipino veteran opted to instead chase a megabucks fight with Amir Khan in the Middle East, which never eventuated.

That played into the hands of the undefeated Horn, who now has the chance to topple one of the sport's biggest names in front of a hometown crowd.

Pacquiao, 39 years old, is an eight-division world champion and a senator in the Philippines. He announced his brief retirement in April after winning a dominating decision over Timothy Bradley in their third outing. He announced his return not long after, and won a twelve round decision over Jessie Vargas last November to capture the WBO crown.