Talks have been ongoing between the two teams over the past week and Fury has offered a 60-40 split to fight Joshua in a voluntary defence of his WBC world heavyweight title.
Joshua's management team, 258 MGT, released a statement on Tuesday morning confirming that the all-British heavyweight title fight has been agreed on their side.
They said: "258 and Matchroom Boxing can confirm, on behalf of Anthony Joshua, that we accepted all terms presented to us by Fury's team for a fight Dec 3rd last Friday.
"Due to the Queen's passing, it was agreed to halt all communication.
"We are awaiting a response."
Fury's promoter and Queensberry supremo Frank Warren quickly replied to this statement, confirming that a contract will be sent to Joshua's team "very soon":
These updates came shortly after it was announced that Joshua had entered the WBC rankings at number six.
Deontay Wilder is ranked number one, with Andy Ruiz Jr, Frank Sanchez, Robert Helenius and Arslanbek Makhmudov following 'The Bronze Bomber' before Joshua.
AJ entering the WBC rankings was a promising sign as Fury could only take a voluntary defence against a rival in the top 15.
Many - myself included - were very sceptical about this fight happening when Fury first challenged Joshua at the start of last week.
'The Gypsy King' comes out with a lot of flamboyant statements so you learn to take what he says with a pinch of salt.
But in the days since it has become increasingly clear that Fury is in fact serious about battling Joshua next and this bout has never been as close to happening as it is now.
Fury is not just a sensational boxer, but he is also very smart. You feel that he sees this as the opportune time to fight AJ given that his rival is coming off two losses against Oleksandr Usyk.
You could argue that Joshua would have been better off facing a few lesser opponents to build up his confidence again.
But this was an opportunity that he could not pass up so credit to him for taking it with both hands.
Fury will be the clear favourite going into this tantalising fight, though Joshua could not be written off, especially if he goes hell for leather as he did earlier in his career.
Even with just one title on the line, this is the biggest fight to make in the heavyweight division, if not boxing as a whole.
Usyk has stated that he will not return to the ring until 2023, so an undisputed fight would be the natural next step after Fury and Joshua *finally* meet in the ring.