More than 500 gymnasts from 80 countries will visit the city to participate in the World Artistic Gymnastics Championships in 2015.
Glasgow was selected ahead of bids from Paris and Orlando, bringing the event to Scotland for the first time.
The tournament will be held in the new 12,500-seat Scottish National Arena currently under construction at the SECC.
The 120 million arena opens in 2013 and will play host to the gymnastics and netball finals during the Glasgow 2014 Commonwealth Games.
The decision by the Federation of International Gymnastics follows a joint bid between British Gymnastics, Glasgow City Council, EventScotland and UK Sport.
City council leader Gordon Matheson said: "This is fantastic news for Glasgow.
"It reaffirms our position as one of the world's top sporting cities and Scotland's sporting capital.
"The scale of this achievement is demonstrated by the fact we were up against Orlando and Paris, two cities with outstanding sporting pedigrees.
"It promises to be an event of the highest quality, with the world's top gymnasts competing in what will be a genuinely world-class venue.
"There has never been a more exciting time for sport in Glasgow and, indeed, Scotland."
British Gymnastics chief executive Jane Allen said: "As the qualification event for the 2016 Olympic Games, we are sure that all British gymnasts will benefit hugely from the terrific home-crowd support that we have become accustomed to receiving in the city."