Promoters InterBox and Groupe Yvon Michel announced the venue for the May 25 light heavyweight matchup on Wednesday.
Pascal (27-2-1, 16 knockouts) and Bute (31-1, 24 KOs) meet up in what could arguably be considered the biggest boxing match to ever take place in Quebec.
Davey Hilton faced Stephane Ouellet three times between 1998 and 2000 before crowds of close to 20,000 in Montreal, but neither had accomplished nearly as much on the international stage as Pascal and Bute.
Roberto Duran defeated Sugar Ray Leonard in front of a huge crowd at Olympic Stadium in 1980, but of course neither boxing legend was Canadian.
While both Pascal and Bute have made their mark in boxing, the 175-pound battle will have the feel of a crossroads bout. The winner will be in the mix to fight some of boxing's biggest names, while the loser will have been defeated for the second time in their last three fights.
Laval's Pascal, 30, has held his own with Bernard Hopkins — a draw in which he twice knocked down the legend, and a narrow decision loss — as well as Carl Froch, while beating the likes of Chad Dawson and Quebec fighter Adrian Diaconu (twice).
It will be just Pascal's second fight in two years. He beat Aleksy Kuziemski in December, his only activity since losing his World Boxing Council light-heavyweight belt to Hopkins in May 2011. Unsuccessful atttempts to make a fight betwen Pascal and Tarvoris Cloud partially explain the relative lack of activity.
Bute, 33, made nine successful defences of his 168-pound International Boxing Federation title, including over savvy veteran Glen Johnson and hard-hitting Edison Miranda.
But the Romanian-born Bute lost the belt in one-sided fashion last year in England to Froch, getting back in the win column with a tough decision win over Denis Grachev in November.