The ATP Tour Finals are moving from London to Turin from 2021 after the Italian city was selected from five bidding cities.
The season-ending event will take place at the PalaAlpitour, a 15,000-seat arena which hosted ice hockey matches during the 2006 Winter Olympics.
London - which has been held the tournament at The O2 since 2009 - had been in the running to retain it while Manchester, Singapore and Tokyo were also in contention.
ATP executive chairman and president Chris Kermode said: "Our congratulations to Turin on putting together such a comprehensive and impressive bid.
"Italy provides us with one of the strongest and most established tennis markets in Europe and has a proven track record for hosting world class tennis events with the Internazionali BNL d'Italia in Rome, as well as the Next Gen ATP Finals in Milan.
"We look forward to bringing the ATP's flagship season-ending event to tennis's growing fanbase in Italy for the first time.
"The success of the ATP Finals is critical to the health of the ATP and we believe that Turin has all the ingredients to take the event to new heights and to continue its growth."
The announcement means next year's finals in London will be the last there before the event moves to its 15th host city.
Held each November, the tournament includes the best eight men's singles and men's doubles teams from the calendar year.
World No 1 Novak Djokovic, president of the ATP Player Council, added: "The ATP Finals is the biggest and most prestigious event that we have at the ATP.
"It's a tournament that has historically moved around and so I'm very excited to see it move to Turin from 2021.
"It's still a few years away but I know that the players will be very excited to compete there, and I also hope to be part of what will be a very special event."