In what sounds like a radio-based, sporting version of 'Have I Got News for You', Vaughan will umpire quick-fire debate among a panel of guests, whom the presenter has been involved in selecting.
The host is given free reign to award and deduct points, although his decisions will be adjudicated by uber-umpire Judge Jim.
During the show, Vaughan will also provide his own take on the key sporting questions arising that day, and regular items include 'Cheesy Spread', about spread betting, and a feature highlighting interviews full of cliches.
Vaughan said he couldn't think of a "better way to spend every Saturday morning".
"I've always been a fan of the station," he said. "And this gives me a chance to preside over an hour of feverish sports debate."
Guests will include sports stars and pundits such as journalists and broadcasters, who will compete for points while discussing current sporting issues.
Vaughan, who is set to become a regular face of sport on BBC One this autumn as the Rugby World Cup begins on October 10 in Australia, with his own TV show 'Johnny Vaughan's World Cup Extra'.
He has signed with Five Live for 22 shows that run until April, beginning this Saturday, October 4.
Bob Shennan, controller of BBC Radio Five Live, said: "Johnny is a huge sports fan and a huge talent, and 'Fighting Talk' -- which will run through the football season -- provides a fantastic lead into our massive year of sport next year, with both Euro 2004 and the Olympics at the fore on Five Live."
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