Mayweather, considered the world's best pound-for-pound boxer, fights 30-year-old Argentine Maidana at the MGM Arena.
Bolton-born Khan thought he was in line to fight the WBC welterweight champion, only for Mayweather to choose Maidana.
"I will be fighting Luis Collazo on 3 May in Las Vegas," the 27-year-old announced on Twitter. (external)
After winning a fans' poll to decide Mayweather's next opponent, Khan signed a deal in December that he hoped would lead to a showdown with the 10-time world champion, who holds world titles at welterweight and light-middleweight.
However, Mayweather, 37, opted to take on WBA welterweight champion Maidana, who Khan beat unanimously on points in 2010.
Mayweather then told Khan he would agree to a fight if the Briton defeated 24-year-old American Adrien Broner on the undercard of his Maidana bout - but Khan said Broner rejected the match-up.
"Mayweather decided not to take the fight with me, probably because he thought I would be the first to take away his unbeaten record, and is now fighting somebody I've already beaten," said Khan.
"I think the fight with Mayweather will happen one day but I'm not rushing and it will happen when I'm ready.
"I've spoken to Floyd on the phone and he's told me it's nothing personal and he still wants to fight me, but I'm not going to think about that.
"The whole thing has improved me physically and mentally and I am ready to come back."
Khan's last fight was a unanimous points victory over Mexican Julio Diaz in April 2013.
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