The 28-year-old will take on the experienced German at Wembley's SSE Arena on Friday, November 18 in a clash that will be shown live on Channel 5.
"I believe that my performances this year, in particular the win over Martin Murray, has shown that I continue to be a serious force on the super middleweight scene," Groves said.
"It goes without saying that I am now determined to challenge again, and this time succeed, in becoming world champion. To be back headlining in front of a home crowd close to west London is the perfect move for me."
Groves's trainer Shane McGuigan added: "Gutknecht is a very tough fight. He is a bigger Martin Murray. It will be a hard fight and George will need to be razor sharp."
Gutknecht, 34, is 30-4-1-KO13 and won his most recent fight by knockout in June.