Klitschko holds the WBA 'super' championship belt, in addition to the IBF, WBO and The Ring belts, while unbeaten Russian Povetkin is the WBA's 'regular' champion.
"This is the best fight that the heavyweight division has to offer at the moment," Klitschko said in a statement.
"I've never boxed in Moscow and I'm looking forward to many Ukrainians and Russians who will come to the arena and create a special atmosphere."
Klitschko holds a 60-3 record and last fought in May when he enjoyed a six round stoppage of Francesco Pianeta.
Former Olympic champion Povetkin has a 26-0 record with 18 KOs.
He won the 'regular' title by defeating Ruslan Chagaev on points in August 2011 and has gone on to defend his title four times since then.
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