The pair will slug it out for the vacant Southern Area title and will also double up as an eliminator for the British title.
Zimbabwe-born Chisora, 25, is unbeaten in 11 professional fights to date.
Skelton had been tipped to retire after his loss against Francesco Pianeta for the European title back in September.
But Skelts, who turns 43 in Janaury, said: "Chisora is the new kid on the block, but I’m going to take him to school big time.
"He’s always running his mouth off and I’m going to shut it up for him once and for all.
"I’ve never even thought about retiring. I want my British title back and Chisora is standing in the way of me getting another shot."
Born 29 December 1983 Chisora is a Zimbabwe-born British professional heavyweight boxer. He turned professional on 17 February 2007, scoring a second round TKO against István Kecskés.
After winning three more fights (all by decision), he came up against the toughest test of his career against fellow rising British heavyweight prospect, Sam Sexton.
Chisora won the fight by stopping Sexton in the final 30 seconds of the final round. Chisora moved on from the win over Sexton by beating the American Shawn Mclean at the Grosvenor House hotel in Mayfair and then stopped the experienced Lee Swaby in 3 rounds at the York Hall.
Chisora finished the year with a December victory over Neil Simpson at the ExCeL Exhibition Centre in London’s Docklands leaving him with an 8-0 record at the end of his second year as a professional.
Chisora was suspended for four months for biting Paul Butlin during the fifth round of their 22 May contest at the York Hall in Bethnal Green. The incident was missed by the referee but TV replays proved conclusive and as a result Chisora will miss out on his fight for a British title against Danny Williams.
He was also fined £2,500. Chisora went on to defeat Zurab Noniashvili on 9 October, winning by TKO in three rounds at York Hall.
In June, this year, top British promoter Frank Warren threw out a challenge to British heavyweight champion Danny Williams, in which he called out "The Brixton Bomber" on behalf of his unbeaten prospect Derek Chisora.
Though he has only had nine pro fights, Warren felt Chisora, nicknamed "Del Boy," was capable of taking the 35-year-old.
Within days after hearing the challenge thrown his way, Williams accepted the fight and it was on for the big June 27th O2 bill headlined by Andriy Kotelnik’s WBA light-welterweight title defence against Amir Khan. However, the fight was put off.
According to an article on Warren’s official site, the fight fell through and the reason for this was that Williams asked for double the money he had originally agreed to take so as to defend against his unbeaten 25-year-old London rival. A press conference had reportedly been set up to officially announce the intriguing bout, but instead, according to Warren, Danny reneged on his original deal.
"Danny Williams agreed to the fight last week, but then he came back and asked for double the money," Warren said angrily. "He can forget it. We are not doing that after his last two snoozathons. Derek will have to get himself into a mandatory position to fight for the title."
But reports in boxing circles said Williams was afraid of Chisora. In truth, "Del Boy" has looked pretty pedestrian in a couple of his fights, and though big Danny is undeniably a faded force from what he was when he was smashing Mike Tyson to a four round defeat a few years back, he would still have been most peoples’ pick to see off the inexperienced Chisora.
On the other hand, Chisora did TKO Sam Sexton a while back, and bearing in mind what Sexton was able to do in his Commonwealth title fight with Martin Rogan, maybe Williams saw something he didn’t like and asked for much more money. Chisora has had plenty to say about Williams!
"It’s disgusting," Chisora spat.
"Williams has had more British title fights than I’ve had fights, but he’s running scared. If we’d have fought I’d have knocked Danny out, and he knows that. Now I need to get myself into a position where I’m the mandatory challenger for his title, and then he’ll have nowhere to hide."