Ray J and Orlando Brown's much-anticipated fight is going down in just a few hours on Zeus Network ... a must-see matchup you don't want to miss.

Ray and Orlando, who are both making their celebrity boxing debuts on the network, are set to square off Saturday evening at State Farm Arena in Atlanta, Georgia, as part of the undercard for the Claressa Shields and Kaye Scott brawl.

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Beef between Ray and Orlando has been brewing for a while now ... and they seem ready to finally settle their differences in the ring.

Orlando has taken shots at Ray J in the past ... regularly referring to him as "Brandy's brother" -- and even slapping him with a stack of money at a press conference in early July, though Ray just laughed off the legal-tender lash.

Ray is getting back in the ring after being KO'd and hospitalized in his last fight against Supa Hot Fire.

When we recently asked Ray about fighting again, he didn't sound the least bit scared.

Worth noting ... Ray J vs Orlando Brown is just one of the celebrity boxing matches going down at the event ... with Chrisean Rock's sister Tesehki taking on Big Lex as the event's official celebrity headliner. Several pro boxing bouts round out the rest of the lineup.

Coverage for the whole event starts at 4 PM ET ... watch online and in the Zeus app.