FIFA have confirmed China will host the inaugural edition of the new expanded 24-team Club World Cup in 2021.
The revamped competition is due to be held every four years and will be played in June and July, replacing the current seven-team tournament which is held annually in December.
"The new FIFA World Cup for clubs will be a competition which every person, every child, anyone who love football is looking forward to," said FIFA president Gianni Infantino, after the 11th meeting of FIFA Council in Shanghai on Thursday.
"It is the first real and true World Cup with the best teams in the world, the best clubs in the world will compete."
FIFA have delayed a decision on how to allocate places for the new tournament.
Football's world governing body say the qualification process will be finalised after a "consultation process between FIFA and the six confederations".
UEFA could potentially receive eight places for the tournament but FIFA have faced opposition from some European clubs over the new format.
The European Club Association, which represents 232 of the continent's leading teams, wrote to Infantino in March to oppose the changes to the football calendar.
The final two editions of the current seven-team tournament will be hosted by Qatar.
This year's competition is due to begin on December 11, with Liverpool entering a week later as UEFA's representative after winning the Champions League.