Alexa Grasso's first fight since losing the UFC women's flyweight title is set.

The former champion will face Natalia Silva at UFC 315 on May 10 at Bell Centre in Montreal, the promotion announced Tuesday.

Grasso dropped the title in a one-sided, unanimous decision defeat to Valentina Shevchenko at UFC 306 last September. The 31-year-old Mexican dethroned Shevchenko with a stunning submission victory in March 2023, and then the two fought to a split draw in an immediate rematch later that year.

This will be Grasso's first fight against someone other than Shevchenko since October 2022.

Silva is one of the top up-and-comers in the women's 125-pound division. The 28-year-old Brazilian holds a 6-0 record in the Octagon and has won 12 straight overall. Silva is coming off a decision win over former strawweight champ Jessica Andrade last September.

Grasso and Silva are ranked No. 1 and No. 5 in the division, respectively.

The winner of the Grasso-Silva fight could be in line for a title shot. Shevchenko's next defense isn't booked yet, but most expect it to come against top contender Manon Fiorot. UFC CEO Dana White has also said a superfight between Shevchenko and strawweight titleholder Zhang Weili is a "possibility."

UFC 315 doesn't have a main event yet. It will mark the promotion's first trip to Montreal since April 2015.