The Gymnastics World Cup will move from Glasgow to London in 2017, with new promoter Barry Hearn promising a "lavish and magnificent" event.
Team GB Olympians Max Whitlock and Amy Tinkler will be among those competing at London's 18,000-seater O2 in April.
Matchroom chairman Hearn hopes the event will capitalise on the popularity of the sport following Rio 2016 where Britain won seven gymnastics medals.
"I cannot wait to put our unique stamp on this global event" he said.
Hearn, who has transformed the appeal of sports such as snooker and darts in the past, said he had been in discussions with British Gymnastics to bring the event to the capital even before the team's success in Brazil.
Sky Sports will broadcast live coverage of the event, which will retain the format of men's and women's all-around competitions.
British Gymnastics CEO Jane Allen added: "Our historic achievements during Rio 2016 mean gymnastics is in demand and more popular than ever".
The O2 hosted the gymnastics events at the London Olympic Games in 2012, and has a significantly larger capacity than Glasgow's 7,000-seater Emirates Arena.