that Tyson, 55, will roast Flair, 73, in front of an audience.
The event will take place in Nashville, Tennessee on July 29 with 1,000 fans present.
Tyson and Flair are friends and business partners who will surely enjoy the opportunity to poke fan at one another.
Flair has announced he is returning for 'one last match' next month, but he'll have to survive a roasting round with Tyson first.
Starrcast organizer Conrad Thompson said: “The last weekend in July is going to be Ric’s swan song in a professional wrestling ring, so what better way to send him off before his final match than giving him a proper roast.
“Ric's career has transcended professional wrestling and made him a pop culture icon. You've seen his influence everywhere from sports to hip hop.
"He's done it all, except get roasted by some of his dearest friends and the most talented comedians in the world. That all changes on July 29th.”
'Ric Flair's Last Match' will be held two days later in Nashville.
An opponent and the rest of the fight card will be announced at a later date.
Tyson is still rumored to be coming back to the ring this year.
YouTuber-turned-boxer Jake Paul told SunSport in April that Tyson is his No1 choice to fight next.
And Tyson has since stated that he would be willing to face the Problem Child.
The New York native hasn't fought inside the squared circle since drawing in his exhibition comeback bout against Roy Jones Jr in November 2020.
But he has fuelled speculation he could be set to return to boxing after sharing footage of him in training where he displayed his explosive power.