Tyson, 53, sparked talk of a highly-anticipated return after sharing a fearsome training video online, the American last entering the ring 15 years ago in 2005.
Evander Holyfield - who defeated 'Iron Mike' twice in the 1990s - emerged as the favourite to take on his former heavyweight rival in a historic trilogy bout after he announced he was also back in training and preparing for a fight.
But 48-year-old Briggs, who is yet to retire and on a nine-fight winning streak - last knocking out journeyman Emilio Ezequiel Zara in 2016 - states he will be the one to take on Tyson.
Briggs, speaking to a fan in an Instagram live chat, confirmed a deal has been reached between the Brooklyn-born pair following positive talks.
“I just talked to Mike Tyson, It’s going down," Briggs said: "Me and Mike, we’re going to make it happen, it’s official - you’re going to see it happen, Brownsville versus Brownsville.
“Me and Tyson are going to lace up the gloves, we’re going to rumble, rumble in the jungle. We’re going to let our fist do the talking.”
"The money is there, the money is almost there, I can't say much more, I'll leave it at that," he added. “This is for charity, this is [an] exhibition. I want people to understand."
Although Briggs emphasises the event will be held for charity, he insists the prospect of facing Tyson remains a dangerous one.
He added: “We all know it's an exhibition and then we will see what's left in the tank. It's for charity, it will be fun, but this is Mike Tyson we are talking about.
“He naturally hits hard, so he might hit me and he might break my rib. We have to be fully prepared.”