Khan, 25, was originally scheduled to face Lamont Peterson earlier this month in a rematch for the WBA and IBF light-welterweight titles.
However, that bout was cancelled after the latter tested positive for elevated testosterone levels.
That left Khan looking for another opponent and he tweeted: "May the best man win on 14 July. Khan vs Garcia."
Born: March 20, 1988 Nickname: Swift Total fights: 23 Total wins: 23 (14 by KO) Titles held: WBC light-welterweight (March 2012- ) Garcia, 24, is undefeated, with 23 wins including 14 knockouts.
"I feel like this is how it's supposed to be: the best versus the best, both of us in our prime and giving the fans a great fight," Garcia told www.espn.com.
"I'm just happy - I feel like I have what it takes to beat this guy.
"I've watched Khan a lot. He's a good fighter, but I don't think he's what people say he is, getting all this credit.
"I feel like he will leave himself open for some big shots and we'll see if he can take them. I can box and I can punch. I'm going to hit him with stuff he won't see. I can't wait."
Garcia recently secured the vacant WBC light-welterweight title with victory by a unanimous decision over Mexican legend Erik Morales, who had been stripped of the belt for failing to make the weight.
It is not yet clear what titles, if any, will be at stake between Garcia and Khan.
Khan's promoters, Golden Boy, is trying to have the result of the Peterson-Khan fight from December overturned to a no decision and the WBA and IBF belts returned to Khan.
However Garcia tweeted on 19 May: "If he [Khan] doesn't get his belts back, we can't fight. A unification bout is the only fight that can not let me fight my mandatory."
Garcia is due for a mandatory defence against Ajose Olusegun but, should Khan be given one or both belts back, the WBC would sanction Garcia-Khan because unification bouts take precedence over mandatory fights.
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