The Turner Prize for contemporary art will be awarded at the Towner Eastbourne in 2023, the first time the event has been held in Sussex.
The art gallery will host the award ceremony and a Turner Prize exhibition as part of its centenary celebrations.
The Turner Prize, established in 1984, is the most high-profile award in contemporary British art.
Towner Eastbourne's director, Joe Hill, said it was "a special moment" for the community.
Mr Hill said the event "will also reignite the visitor economy in East Sussex".
Turner Prize jury chairman Alex Farquharson said: "It marks the first time the prize has been held in Sussex, an area that has inspired generations of artists.
"Towner's rich history of collecting and exhibiting work by UK artists particularly resonates with Turner Prize's aim to champion the latest developments in contemporary British art."
Named after landscape artist JMW Turner, the prize is being awarded in Liverpool this year.
In 2019 the award was hosted at the Turner Contemporary in Margate. Much of JMW Turner's work was inspired by the Thanet coast.
The award will be the highlight of Towner Eastbourne's "Towner 100" centenary event, a year-long celebration of arts and culture in the coastal town.
A Turner Prize 2023 Exhibition will run at the gallery between next September and January 2024, while the award ceremony will be held in December next year.
Eastbourne Borough Council leader David Tutt said: "We are thrilled to be welcoming such a prestigious national event to one of our town's best loved cultural venues and we know the impact that it will have on the tow n will be transformational."
Previous Turner Prize winners include Damien Hirst, Grayson Perry and Helen Cammock.
The exhibition of the Turner Prize's four shortlisted artists will feature at the Towner from 28 September 2023 with the winner being announced on 5 December 2023.