UFC officials confirmed the 115-pound pairing on Tuesday. The televised event will take place inside Scotiabank Centre and is headlined by a heavyweight fight between Junior dos Santos and Stefan Struve.
Esparza (11-3) hasn't fought since she earned a decision win over Juliana Lima at UFC 197 in April.
Fighting out of California, Esparza has been in headlines in recent months, discussing financial hardship and an inability to book a fight. She has just three appearances since 2014.
Markos (6-4) will be making her sixth appearance inside the Octagon. She is 2-3 since entering the UFC and is a former cast mate of Esparza's on "The Ultimate Fighter" reality show. She is coming off a submission loss to Cortney Casey in August.