According to a report from Dan Rafael of ESPN.com, the fight, with huge historical implications, has been finalized and will be broadcast on HBO pay-per-view.
It's been a long road to this point, with negotiations stopping and starting for months, but with the contracts finally signed, boxing fans can prepare for one of the biggest fights of 2014.
Cotto, a former junior welterweight, welterweight and junior middleweight champion, will be attempting to make history by becoming the first Puerto Rican fighter to capture world championships in four weight classes.
Martinez, an icon himself in his native Argentina, will be making his seventh defense of the 160-pound crown, but he'll be stepping into the ring for the first time in 14 months, after suffering a year-ending injury against Martin Murray last April.
It's a huge fight, with huge historical implications, and here we'll pull apart the fight and the fighters for you.
This is your complete head-to-toe breakdown of Cotto vs. Martinez!