A formal announcement on the alliance between the two Uttar Pradesh-based parties will be made at Saturday's joint press conference with BSP, he said.
Responding to a question, the former Uttar Pradesh chief minister said the BJP had strengthened because it joined hands with regional parties and his party was also gaining strength by forming a coalition.
"Our (BSP and SP) coming together has not only created fear in the BJP but also in the Congress," Yadav added.
The BSP and SP alliance has virtually shut its doors to Congress in the state.
However, Chaudhary had said the alliance will not field candidates in Amethi and Raebareli, leaving the two Lok Sabha constituencies for Congress president Rahul Gandhi and United Progress Alliance chief Sonia Gandhi.
Yadav gave a slogan for the upcoming polls: "Humara kaam bolta hai, BJP ka dhokha bolta hai" (Our work speaks for itself, BJP's betrayal speaks).
He also took a dig at the BJP-led state government's decision to levy an additional 0.5 per cent cess on excise items to fund cow shelters, saying people will have to drink more liquor now for cow safety.
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