Frampton has not fought since his loss to Leo Santa Cruz in their WBA title fight in Las Vegas in January.
Mexican Gutierrez, 23, has lost just one of his 35 fights and is a former WBC Silver featherweight champion.
Frampton initially expected to fight Santa Cruz for a third time this summer but that bout failed to materialise.
Former two-weight world champion Frampton confirmed last week that his next fight would be in his home city.
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Guitirrez, known as the 'Jaguar', turned pro at just 15. He said he was relishing next month's showdown with Frampton.
"I'm very happy for this news they gave me. I know it will be very difficult, but I have the character to prevail," he said.
"I'm going to put in soul, life, and heart and I will fight for what I most want, that's why I'll prevail."
Frampton told a packed audience at the announcement at the Europa Hotel in Belfast that he was "excited to be back boxing at home".
"I was hoping this fight would be at Windsor Park but it wasn't to be. My dream is to fight at Windsor Park and I want to do that at some point," said Frampton.
"The SSE Arena is where I believe the best performance of my career has been, against Chris Avalos. The atmosphere there can't be replicated anywhere else. It's spectacular.
"I wanted a tough fight and I know I'll need to be at my best. If I'm not, I may lose this fight."
Carl Frampton will make his ring return against Andres Gutierrez at Belfast's SSE Arena in a WBC world featherweight title eliminator on 29 July.