ICC's Chief Executive David Richardson also put speculation to rest about ICC Champions Trophy being continued.
"The ICC Champions Trophy in England and Wales was highly acclaimed and appreciated by all. However, the principle of one pinnacle global event for each of the three formats
over a four-year cycle is a good one and, as such, the ICC Board has agreed to replace the Champions Trophy with the ICC World Test Championship," Richardson was quoted as saying in the press release.
The ECB will also host the 2019 World Cup and Cricket Australia (CA) got the right to host the 2020 World Twenty20.