As reigning WBC heavyweight champion in November 2005, Klitschko announced he was hanging up his gloves due to an injury to his right knee.
But at a news conference in New York on Wednesday, the 37-year-old Ukrainian said he was fit for the bout, which - he predicted - would be decided in his favor by the end of the sixth round.
"I promise the fight will not be easy and it won't go to the scorecards. It will probably end between rounds four-six. I have a lot of presents ready for Peter for October 11," BoxingScene.com website quoted Klitschko as saying.
Klitschko, who lives and trains in Germany, hasn't fought in almost four years, but as WBC "champion emeritus" he had the right to challenge Peter whenever he wished.
He said that besides getting his title back his other top motivation is to hold one of the heavyweight titles along with his younger brother, Wladimir, who is currently the reigning IBF and WBO heavyweight champion.
"I don't underestimate Peter. He is a good puncher. I will give my best to be the winner, to take my title back, and to make history where two brothers will be champions at the same time. It's a huge motivation for me," he said.
His opponent, the usually punctual 27-year-old Nigerian, was one hour late for the news conference, but when he did show he dismissed Klitschko's promises and declared himself the only true champion.
"Vitali, you never beat a champion. You say you are the champion, but you are not a champion. You can't be the champion until you beat me, and you can't," Peter (30-1, 23 KOs) said, adding that after beating Vitali he will go after his younger brother.
"I am making one promise today. I will knock Vitali out. Trust me. I will knock out Vitali, and then I will beat his brother. There is no doubt about that," he concluded.
Klitschko, who is 6'8" tall and weighs 245 lbs (203 cm, 111 kg), fought 37 bouts, with 35 victories (34 KOs). Before quitting in 2005 he was the reigning WBC/IBO champion, had taken the European title on four occasions and was the WBO world champion from June 1999 to June 2000.
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