Alvarez takes on Englishman Rocky Fielding at Madison Square Garden in December for the WBA world super-middleweight regular belt.
If he wins, Alvarez will become the 11th Mexican fighter to win three world title belts in different divisions.
The Mexican is giving up a significant size advantage against Fielding, having fought the majority of his career at either welterweight or light-middleweight.
In taking the Fielding fight, Alvarez has all but shut the door on the prospect of a trilogy fight with Gennady Golovkin.
The middleweight king defeated Golovkin in their second fight in September by unanimous decision, and many felt a trilogy fight would be next.
However, it now seems that Golovkin and Canelo’s career trajectories will go separate ways, with the latter declaring his intentions to fight in New York for the first time.
”It’s the Mecca of boxing,” Alvarez said to The News Tribune.
“I have wanted to fight there for many years, and this is a great opportunity to give the fans from Latin America and Mexico a great fight.
“This is a fight I made because I want to make history as one of the top Mexicans to win three titles.
“He is the current WBA champion. … I asked for the opportunity to fight at 168 pounds. For me, it’s the history.
“Only 10 Mexican champions have titles in three weight classes. I am taking a big risk entering his comfort zone.”
Fielding, who won the WBA regular belt when he defeated Tyron Zeuge in Germany, insists he isn’t just getting into the ring to be a part of Alvarez’ legacy.
“He’s a worldwide superstar,” the Liverpudlian said.
“You have to fight the best to be the best, and this is an opportunity for me to take on the best.
“I didn’t expect him to move up (in weight).
“It didn’t sink in until I was in the gym the next day after his phone call to ask about a fight.
“And then at Madison Square Garden, are you serious? There have been a lot of big fights there.”