Natasha Jonas is "punching very hard" and is a "tough, tough fight for Katie Taylor", says promoter Eddie Hearn.
A passionate and vocal crowd ensured that Taylor's win over Jonas was one of the highlights of the 2012 Olympics in London.
The promoter's long-held ambition since both turned professional has been to see the pair square off once again in the paid ranks, on the Derek Chisora vs Joseph Parker bill on May 1, live on Sky Sports Box Office.
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"It was the loudest crowd noise ever recorded at a sports event when Natasha Jonas boxed Katie Taylor in the London 2012 Olympics," Hearn told Sky Sports.
"When we signed both fighters, the plan was of course just to build the rematch in the professional game. It was pretty straightforward.
"Natasha took a shock defeat to [Viviane] Obenauf and everyone felt a bit deflated. Then she's come on leaps and bounds. Fantastic fight with Terri Harper and it was the natural fight to make."
Jonas had retired from the sport in 2015 before reversing her decision and turning professional in 2017.
A surprise knockout defeat to Obenauf, an opponent that Taylor has beaten, appeared to have ended her hopes of gaining revenge over the Irish boxer.
However, the Liverpudlian has bounced back with three straight wins before drawing with fellow Brit Terri Harper in her first world title challenge last time out.
Meanwhile, Taylor has amassed 17 straight victories to become the undisputed lightweight champion, with Hearn stating: "Katie Taylor has never turned down an opponent. Sometimes you get a situation in British, Irish, domestic fights, whatever you want to call them, that people say, 'Oh no, I'm not fighting her'.
"Katie is just like, 'That's a great fight. That's a great fight for women's boxing. That's a great fight for the fans. Let's do it'.
"Natasha Jonas has got that belief again now. After that performance with Terri Harper, you watch her in the gym with Joe Gallagher.
"They believe they can beat Katie Taylor. She's punching very hard, she's full of confidence, she's fitter than ever."
Having won five world titles in the amateurs, Taylor has also gone on to become a two-weight world champion, making her the pound-for-pound queen.
Jonas though is on the best run of form in her career to date.
"This is a tough, tough fight for Katie Taylor," Hearn added.
"Time and time again she has to come out with the pressure on her shoulders and perform.
"This is right up there with the toughest test of her career so far. Loads on the line in that one."
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