Groves was due to challenge for the vacant European super-middleweight title against Mohamed Ali Ndiaye on March 16 as part of a Frank Warren card but withdrew last week.
The unbeaten Commonwealth super middleweight star will now box for the first time under his new promoter Eddie Hearn on the ‘London’s Finest’ bill at the Wembley Arena on Saturday against Argentine Dario German Balmaceda.
Groves is also the first fighter to be confirmed for the undercard of the clash between Carl Froch and Mikkel Kessler at the O2 Arena in London on May 25.
The 24-year-old defeated bitter rival James DeGale in May 2011, and the Hammersmith talent has since destroyed Paul Smith in two rounds, travelled to America to deposit Francisco Sierra in six and outpointed Glen Johnson in east London.
Groves will now seek a path to world title glory.
“It's a very exciting opportunity for me,” said Groves.
“I've had three fights in 18 months which is not ideal so it will be great for me to get out regularly, I'm healthy, I'm training hard and Eddie has promised to keep me busy so everything is looking good and I'm raring to get back into action.
“I'm at that level now where I'm knocking on the door for world titles. I've had to give up my spot as the mandatory for the European title but hopefully that door isn't shut and it's still a possible route, but I'm well ranked in the governing bodies and I want to fight for a world title.
“I'm ranked number one with the WBO and I'll have just as close an eye on the Froch vs. Kessler fight as I really believe I could get a crack at the winner and I think Eddie knows I want that fight so it ties in nicely.”