Sherdog first reported the news of Falcao's involvement, who will be making his promotional debut in the tourney's first round. Falcao (28-4-0-1) was notably released from the UFC even after his only Octagon fight was a win over Gerald Harris at November 2010's UFC 123.
He pulled out of a fight with Alessio Sakara due to an injury and following issues stemming from a 2002 assault on a woman, the UFC cut ties with the 30-year-old. Falcao has fought three times in Brazil since then, going 2-1 with a pair of quick first round TKO wins.
Santana (17-1) made his Bellator debut last October with a first round submission win over Darryl Cobb, his 13th career win by armbar. He's won six fights in a row and is a veteran of EliteXC, M-1 and Tachi Palace Fights.