The Morecambe featherweight, a training partner and lifelong friend of Fury’s, will face Liverpudlian Nick Ball for the WBC Silver featherweight title.
The victor will land a high world ranking with the World Boxing Council and be in contention for world honours.
Lowe tasted defeat for the first time in his career last time out in a world title eliminator against highly-touted Mexican Luis Alberto Lopez, being stopped in the seventh round of their December clash at York Hall in London.
The ‘Westgate Warrior’ has won 21 of his 25 fights and also has three draws on his record.
Ball is unbeaten, winning all of his 14 fights with seven knockouts.
Show promoter Frank Warren, who also guides the career of Ball, said: “I am so looking forward to seeing our man Nick Ball get the chance to really announce himself on the big stage against Tyson’s sidekick, Isaac Lowe, and it should be a cracking fight.
“The WBC Silver title on the line will propel the winner right into the world mix at featherweight.”
The undercard was confirmed as it was announced Fury and Whyte’s clash for the WBC World heavyweight title will now be witnessed in person by 94,000 fans following the granting of an additional 4,000 tickets by the local authority.
It sets a new record for boxing, with the tickets going on sale on Wednesday.