James DeGale earned the chance to face Carl Froch after beating Brandon Gonzales in a fourth-round stoppage at Wembley Stadium on Saturday.
DeGale lost to Groves in a controversial points decision in 2011 but may face his fellow Londoner again after a dominant display against Gonzales.
The victory means DeGale is now the mandatory IBF challenger to the super-middleweight title.
DeGale, who won a gold medal at the Beijing Olympics in 2008, came out of the traps fast in the first round with two early hits and continued to dominate the opening exchanges with some excellent sequences.
Gonzales seemed to gather himself after a bruising start and was able to shut down DeGale's space with greater effect in round two and three.
The 28-year-old Londoner opened up midway through round four however with a series of explosive punches which sent Gonzales crashing to the floor with three big hits.
The American rose to his feet but was unable to buy himself the time he needed.
DeGale again unleashed with three more shots to Gonzales' head and as the American wobbled, the fight was stopped in the Londoner's favour.
DeGale said: "I did exactly what I wanted to do tonight, which was put in a performance. In front of nearly 80,000 at Wembley, it's fantastic. The atmosphere is brilliant.
"I'm going to have to watch it back but I hit him with good, clean shots and he was hurt. I'm 100 percent ready for a world title shot now. That was a final eliminator so that's it, I'm mandated to fight for the IBF.
"I've always said I'm all wrong for Carl Froch. I've got huge respect for the man but when we fight I'm very confident of beating him. I wouldn't get into that position to be hit with one of those big right hands."