Frampton, 32, was preparing to fight in June but legal matters have pushed back the date of his return to the ring.
“Frampton is fighting in August in the US, and then he’ll fight for a championship in probably November or December,” confirmed Arum.
It will be Frampton’s first fight since losing to Josh Warrington in December.
Former two-weight world champion Frampton signed with iNFLuential US promoters Top Rank in March and was set to be rewarded by challenging WBO featherweight champion Oscar Valdez.
However Valdez is instead fighting on 8 June, meaning the Belfast fighter will not fight for a world title until the winter.
By that stage Frampton’s compatriot Ryan Burnett is expected to have fought WBO bantamweight champion Zolani Tete.
Another Belfast fighter, Michael Conlan, is aiming to avenge his controversial defeat at the 2016 Olympics by Russian Vladimir Nikitin in a highly anticipated showdown in Belfast in August.
“[Frampton] was going to fight on 3 August but then that date went to Michael Conlan,” Arum said.
“I’m going to Belfast, where Conlan will fight. Later on in August, maybe the 10th or the 23rd, he’ll be fighting. He’ll be top of the bill.”
Frampton is suing McGuigan, his wife Sandra McGuigan and Cyclone Promotions (UK) Ltd, claiming purse money and other earnings due to him were withheld.
He is also facing an action from his former promoters, with whom he split in 2017, for alleged breach of contract.
Lawyers representing the McGuigans have insisted that all of the allegations are categorically denied.