The fights are on ESPN+, with the main card starting at 8 p.m. ET and the prelims at 5 p.m.
Covington (15-2, 10-2 in the UFC) is coming off a fifth-round knockout loss in his challenge of champion Kamaru Usman in December. Prior to that, Covington had won seven in a row.
Woodley (19-5-1, 9-4-1 UFC) has lost his last two fights. After dropping the 170-pound belt in a March 2019 unanimous-decision loss to Usman, he lost again by unanimous decision in May, falling to Gilbert Burns, who in December will challenge for the championship.
How to watch the fights
Watch the fights on ESPN+. If you don't have ESPN+, get it here.
There's also FightCenter, which offers live updates for every UFC card.
Saturday's fight schedule
ESPN+, 8 p.m. ET
Colby Covington vs. Tyron Woodley | Welterweight
Donald Cerrone vs. Niko Price | Welterweight
Khamzat Chimaev vs. Gerald Meerschaert | Middleweight
Johnny Walker vs. Ryan Spann | Light heavyweight
Mackenzie Dern vs. Randa Markos | Strawweight
Kevin Holland vs. Darren Stewart | Middleweight
ESPN+, 5 p.m. ET
Jordan Espinosa vs. David Dvořák | Men's flyweight
Mirsad Bektić vs. Damon Jackson | Men's featherweight
Mayra Bueno Silva vs. Mara Romero Borella | Women's flyweight
Jessica-Rose Clark vs. Sarah Alpar | Women's bantamweight
Journey Newson vs. Randy Costa | Men's bantamweight
Andre Ewell vs. Irwin Rivera | Men's bantamweight
Darrick Minner vs. T.J. Laramie | Men's featherweight
Tyson Nam vs. Jerome Rivera | Men's bantamweight