The Hull & Humber yacht is currently leading this year's race
Hull has been chosen as the host city for the 2009 Clipper Round the World Yacht Race.
Organisers said hosting the 35,000-mile race would be a massive boost for the region's economy and attract thousands of visitors.
The Hull and Humber yacht in this year's race, which left Liverpool in September, is currently leading as competitors head towards Jamaica.
The official announcement was made by race organisers in London earlier.
Clipper chairman Sir Robin Knox-Johnston, the first man to sail single-handed and non-stop round the world, said: "Hull and Humber hosted the Clipper fleet last summer for a warm-up race from Rotterdam to Hull for the Wilberforce Challenge Cup.
"It was a marvellous weekend and the combination of facilities and hospitality was first class."
British yachtswoman Dame Ellen McArthur, who spent the early days of her career sailing in the Humber, said: "I have many good memories of my time there and it is great to hear that the region is now involved in the sport of sailing at this level."
The race, now in its sixth year, is divided into seven legs and a total of 14 individual races, with Durban, New York and Singapore among its ports of call.
This year's fleet of 10 yachts is due to arrive back in Liverpool in July.