The pair - who were once sparring partners - will come up against each other in Glasgow, though the exact venue has yet to be confirmed.
"I'm in this sport to prove I'm the best, next to me Mitchell's the best around, and it will be a great fight between two warriors," said WBO lightweight champion Burns.
"The fight's been on the boil for the last couple of years and the fans and press have been desperate for it to happen. It's fantastic that it's on at last.
"We are both at the top of our game now. He put on a great showing against John Murray last year that showed just how good a boxer he is to take apart another champion.
"But this fight is the fight I've wanted and it's got me really excited. Mitchell's going to bring out the best in me and I believe that the fans are going to be in for an unbelievable fight."
Mitchell, who at 27 years old is 18 months younger than Burns, is also expecting a tough fight.
"This is a real fight between the two best in the division and it's not going to be for the faint-hearted," he said.
"I rate Burns very highly, he's a great fighter and has really proved himself as one of the top champions in the world.
"I'm going into the lion's den and I know I can beat him and take the world title. Burns is a top kid and I've got to be at the top of my game, the fittest and strongest I've ever been in my life to win."