The fight, which will be staged in London, was originally scheduled to take place in the middle of 2020 before being delayed because of the Covid-19 outbreak.
Frampton stopped Darren Traynor in an interim fight in August.
Herring overcame Jonathan Oquendo after a disqualification in Las Vegas.
"I'm delighted to finally get a date nailed down for this fight that has now been talked about for over a year," said Frampton.
"I have the utmost respect for Jamel as a fighter and as a man but there is nobody stopping me on becoming the island of Ireland's only ever three-weight world champ, one of Britain's only ever three-weight world champions and potentially have one foot in the hall of fame."
Frampton became world champion at super-bantamweight in September 2014 when he defeated Kiko Martinez at the Titanic Quarter, followed by successful defences against Chris Avalos and Alejandro Gonzalez.
The Belfast boxer unified his IBF belt with Scott Quigg's WBA title in Manchester, where Frampton prevailed on points.
The 33-year-old was then involved in two memorable encounters with Leo Santa Cruz at featherweight - Frampton became a two-weight world champion at the Barclays Center in Brooklyn, only to come off second best in the rematch at the MGM Grand in Las Vegas.
Frampton set about a rebuild following his Santa Cruz setback and teamed up with promoter Frank Warren.
He was quickly back in the title mix and won the WBO interim world featherweight title with a comprehensive defeat of the decorated Nonito Donaire at the SSE Arena in April 2018.
In August of the same year he fulfilled a childhood dream of boxing at Belfast's Windsor Park and his Interim status was maintained with a ninth round stoppage of the Australian Olympian Luke Jackson.
Four months later Frampton lost to Josh Warrington, who retained his IBF world featherweight title at the Manchester Arena.
After considering his future, Frampton decided to go again at super featherweight and got back to winning ways with a clear points victory over Tyler McCreary in November of last year in Las Vegas.