They meet in Breaffy House Sports Resort, Castlebar on Saturday, June 8 , on Assassin Promotion's value-for-money 14-fight show that also includes Irish champions PJ and Paddy McDonagh, Anthony Cacace and heavyweight star Hughie Fury.
Both Reynolds and Carmichael were top-class amateurs.
Reynolds competed at two world amateur championships - his rivals included David Haye - and as a professional, he's ranked among Ireland's top-five cruiserweights after just two fights.
Carmichael lost just 10 of more than 100 amateur bouts and his match with Reynolds gives the Belfast doorman the chance to give his career a boost after his early exit from 'Prizefighter' on Saturday night.
Carmichael took too long to figure out Welsh southpaw Hari Miles in front of the Sky Sports cameras and was edged out on points after a close fight.
Darren Cruise is another former 'Prizefighter' in action on the show.
He lost to JJ McDonagh in last year's 'Irish middleweights' event and the 23 year-old from Castlerea also faces local opposition.
Alan Donnellan comes from Limerick with a big-hitting reputation and their super-middleweight clash looks a make-or-break fight.
Kaz Evans and Charles Lane are the heads of Assassin Promotions and Evans said: "These are the sort of fights the fans want to see.
"They are 50-50 fights and because they are local derbies, both boxers will be giving 110 per cent to win.
"There's everything to fight for."
Gary Sweeney is another top talent in action on the show. He makes his professional debut having won silver at the European Youth championships in 2011 - and big brother Michael also boxes.
Tickets are available from Breaffy House or call 087 6595567 or 094902203 or online at www.assassinboxing.co.uk