UFC officials announced the match-ups on Monday.
Herman 21-9, 1 no contest) is coming off a split decision win over Trevor Smith on July 27. He hopes to officially start a winning streak when he faces Natal.
Natal (17-4-1) has won his last three outings with decisions over Tor Troeng and Joao Zeferino and a submission victory over Sean Spencer. The Brazilian will be looking to extend his winning streak to four.
Both fighters are coming off Fight of the Night performances in their last outings.
Figueroa (9-3) has lost back-to-back fights and is in desperate need of a win. With an overall 2-3 record in the UFC, the bantamweight could be fighting for his job when he faces Perez.
Perez (13-5) had an eight-fight winning streak snapped in his last outing, dropping a split decision to Takeya Mizugaki at UFC Fight Night 27 on Aug. 28. The Mexican will be looking to rebound and begin a new string of wins.
UFC 167 takes place at the MGM Grand Garden Arena on Nov. 16 and his headlined by the welterweight championship bout between titleholder Georges St-Pierre and Johny Hendricks. Former UFC light heavyweight champion Rashad Evans face Chael Sonnen in the co-main event.
UFC 167 also serves as the promotion's 20th Anniversary event.