Cordina, 30, has won all 14 of his fights since turning professional after competing in the Rio 2016 Olympics.
He will fight 34-year-old Japanese world champion Ogawa on June 4 at the Motorpoint Arena.
If Cordina beats Ogawa, he will become the thirteenth Welsh boxer to hold a world title and the first since Lee Selby lost his Featherweight belt in 2018.
“I’ve dedicated my entire life to boxing and to putting myself in this position,” said Cordina, a former British and Commonwealth lightweight champion who has dropped down to the 130lb division.
“Now it all comes down to this opportunity, my world title shot. It’s a lifelong dream of mine to become a world champion and a stepping stone to securing my family’s future and making all of the times missed with them worth it.
“I’ll be taking this opportunity with both hands; I’m prepared to do whatever it takes to win. Be ready to see the best Joe Cordina come fight night.”
Ogawa (26-1-1, 18KOs) claimed the vacant IBF crown last November, twice putting down Azinga Fuzile en route to a unanimous decision win over his South African opponent.
“This is it for Joe Cordina – the opportunity of a lifetime and his moment of truth,” said Cordina’s promoter Eddie Hearn.
“Joe has an opportunity to become World Champion in his home city and put himself up there with the greats.
“Ogawa is huge step up, big, strong and proven as an elite fighter. Victory for both men sets up huge unification opportunities.”