Whyte, 32, was originally set to meet Povetkin for a second time in late November at Wembley Arena.
But the bout was postponed after the Russian, 41, tested positive for Covid-19.
Povetkin was hospitalised with the virus and initial hope of a January date was scrapped.
However, it has been announced by Matchroom Boxing that the fight will now be staged in seven weeks, with the venue to be confirmed.
Whyte’s status as the mandatory challenger to WBC champion Tyson Fury was shattered when he was knocked out during the fifth round of the first contest last summer.
Povetkin, who lost to Anthony Joshua in a world title fight at Wembley in 2018, is the holder of the WBC interim heavyweight title.
It was also revealed on Friday that Josh Warrington will defend his IBF featherweight title against Mauricio Lara on February 13.
Warrington, who has not fought since October 2019 when he stopped Sofiane Takoucht in two rounds in the third defence of his belt, has been coveting a showdown against featherweight foe Can Xu.
But the 30-year-old Brit will first go toe-to-toe against Mexican Lara, 22, with any hope of fighting Xu pushed back until later this year.
Elsewhere, Lawrence Okolie, 28, will bid to become Britain’s next world champion when he clashes with Krzysztof Glowacki for the vacant WBO title on March 20.
Conor Benn, the 24-year-old son of former world champion Nigel Benn, defends his WBA continental title against Samuel Vargas on April 10.
Matchroom Sport managing director Eddie Hearn said: “Even in a pandemic I feel like this is the strongest start to a year Matchroom have had in a long time.
“It’s going to be a rough ride over the next couple of months but with plenty of drama and excitement along the way.
“We have some thrilling main events and stacked cards that feature some of the biggest names in British boxing returning to action as we look to make a real statement in 2021.”
Additional reporting by PA.