Lord Coe believes hosting the 2017 World Athletics Championships will be a milestone towards delivering the London 2012 legacy promise.
The future use of the facilities was at the centre of the capital's successful bid for the 2012 Olympic Games.
IAAF vice-president Coe, who is also London 2012 chairman, said: "The maintenance of the track and field legacy was absolutely crucial."
IAAF president Lamine Diack confirmed that London won the vote 16-10.
"It's a great, great result and it's down to the clarity of the message that [UK Athletics chairman] Ed Warner and the team have been working on," Coe added.
"It was very important for us not to get spooked by inducements [from Doha] and just to make sure that people understood in London we have the stadium stuffed to the gunnels with people who look like they want to be there and know why they want to be there.
"We do take our responsibility here very, very seriously.
"Whichever city had prevailed, we still face the same challenges in exciting more people into track and field. We won't let you down."
PRIME MINISTER DAVID CAMERON
"There is no better way to follow the Olympics, and to build on its legacy, than by welcoming the world's greatest athletes back to London for the 2017 World Championships.
"We are determined to make 2017 the most successful World Championships there has ever been and we look forward to welcoming athletes and fans from the world over to our vibrant, multicultural, sports-mad capital."
LONDON MAYOR BORIS JOHNSON
"The London team put together a cracking bid.
"With the 2017 championships now in the diary, next summer's London Games is the start of a long and active life for our magnificent stadium.
"I believe they [the IAAF] felt we wanted it for the right reasons and that got them going."
SPORTS MINISTER HUGH ROBERTSON
"I am delighted that London has won the right to host the IAAF 2017 World Athletics Championships.
"Our bid showed the passion that our nation has for athletics and this will leave a fantastic legacy for the sport. I am sure we will put on a brilliant championships in the Olympic Stadium and the Government looks forward to working with the IAAF, UKA and the Mayor to deliver exactly that."
BRITISH OLYMPIC ASSOCIATION CHAIRMAN LORD MOYNIHAN
"It has been our view that the upcoming Olympic and Paralympic Games should serve as a catalyst for the beginning of a new era of sport in the United Kingdom, with expanded opportunities for participation at every level of sport.
"It is by hosting events such as the 2017 IAAF World Championships, that legacy will be brought to life."
FORMER SPORTS MINISTER RICHARD CABORN
"It's great for UK Athletics, it's great for UK sport and it's great for young people. This is part of our 2012 legacy now, of the Olympics in London.
"It's very very important now for our young people, our new athletes coming through, to be part of that. It's a fantastic day, well done to a professional team, who has done a very professional job."
DOHA'S VICE-CHAIRMAN DAHLAN AL-HAMAD
"First of all we congratulate our friends from London. The main thing is that it was a fair battle, we wish them good luck and we believe that in sport there is winning and losing, but at the end of the day all of us are working for the good of the sport. I think we did all we could."
BRITISH ATHLETES' VIEW
World, European and Commonwealth 400m hurdles champion Dai Greene on Twitter: "Great news on the #London2017 bid success. Massive smile on my face, great news for sport fans in the UK.
"I'll still be competing at the top in 2017." Greene will be 31 in 2017.
Roger Black, who won 4x400m relay gold in 1991 and 1997 and individual 400m silver in 1991, told BBC Radio 5 live: "Common sense has prevailed.
"It is the right time of year for sponsors and there will be unprecedented demand for tickets because this country loves to support sport.
"We'll have a full stadium and the Olympic Stadium stays alive."
Olympic and world 400m hurdles champion Sally Gunnell on Twitter: "Great news on winning #worldathletics 2017. Great job."
Jess Ennis, who won world heptathlon gold in 2009 and silver this year in Daegu, on Twitter: "Brilliant news about #London2017"
Olympic 400m bronze medallist Katharine Merry on Twitter: "LONDON get it!!!...yeah baby! Well done everyone involved...bring it on! #2017."