Top Rank vice president Carl Moretti revealed earlier this month that an agreement had been reached for the former world heavyweight champion to step into the ring with the 28-year-old Wallin.
It was confirmed on Tuesday that unbeaten Swede Wallin (20-0) will get a chance to claim the Briton's lineal title in Nevada next month.
Fury brutally knocked Tom Schwarz out at the same venue in June and will be a strong favourite to add another victory to his record, which shows 28 wins and a draw.
The 31-year-old last month stated that he will face Deontay Wilder in a rematch on February 22 next year, but now wants to fight in his homeland in December after the American agreed a deal to face Luis Ortiz in November.
— Frank Warren (@frankwarren_tv) August 13, 2019
Fury said: "I am pleased to be back in Las Vegas. I loved my time there in my last fight and am going to put on a show again.
"Otto Wallin is a world-ranked fighter and is tall, something we want with the Deontay Wilder rematch around the corner. He is also a southpaw, which will bring its own obstacles, but I will be fully focused to get this job done because the rematch needs to happen."
Frank Warren, Fury's promoter, said: "I'm delighted that Tyson is boxing in Las Vegas again after his previous success.
"It is another undefeated boxer he is facing and a contest where a victory will set up the Deontay Wilder rematch. Otto Wallin knows this is his big chance, and Tyson will not be underestimating him."
Photo Getty Images. Caption: Former world heavyweight champion Tyson Fury