An initial bout scheduled in Limerick in September was postponed because WBO champion Lee came down with a viral infection while Saunders' cut eye nixed the initial date change, which was supposed to take place on Saturday night in Manchester.
The two fighters instead announced that a third date has been confirmed, with Lee (34-2-1, 24KO wins) desperate to make the inaugural defence of the title he won by beating Matt Korobov in December last year.
The London-born Irishman, 31, has fought once this year, a split draw in a non-title bout against unbeaten American Peter Quillin, said in quotes on promoter Frank Warren's official website: "The delay in the fight between me and Saunders has just made me more determined, if that is possible.
"Once I have beaten him on December 19 I can move on in my career and unify the titles.
"My fans have been very patient and I'll give them what they have been waiting for as a Christmas present, beating Saunders and remaining world champion.
"I'm a proud man and I'm prepared to fight 'tooth and nail' to keep my title. Saunders is in for the fight of his life."
Mandatory challenger Saunders (22-0, 12 KO wins) says the cancellations have made him equally resolute and has promised a knockout victory.
"Like Lee I just want to get in the ring and fight," said the 26-year-old Briton. "We've talked and talked for months, now we just want to fight.
"It's been a long time coming, but it's here now and nobody is going to stop me. This isn't going to be a Merry Christmas for him, more like the Nightmare Before Christmas.
"We're both fighting men and one of us isn't going to be standing at the end, and that won't be me."
Terry Flanaghan made light work of American Diego Magdaleno to retain his WBO lightweight title after a second-round stoppage.
Flanaghan, making the first defence of the vacant belt he won in July, pummelled Magdaleno in the second round and had already sent him to the canvas on two occasions when a crushing uppercut produced a third knock down where referee Terry O'Connor stepped in.
The Mancunian said: "I'm a humble guy, I'm pretty down to earth. People said I didn't deserve to be World Champion but I think I've proved it."
Article Courtesy of Independent