It will be the third time the event has taken place in the United Kingdom, and the first time in Scotland.
The 2018 edition - the most recent one - was in Birmingham, which was also the host venue in 2003.
It could see the likes of Christian Coleman, the current championship record-holder, take to the 60m track at the Emirates Arena, while others compete in the 7,000-seater venue’s 200m loop across 12 more disciplines.
Glasgow hosted the European Indoor Championships in 2019 at the Emirates, and the 1990 event at its preceding venue, the Kelvin Hall.
The city also held the 2014 Commonwealth Games with track and field accommodated at a redesigned Hampden Park, and the British championships were also at the arena in the east end of the city, last year.
First Minister Nicola Sturgeon said it would “underline Scotland’s global reputation as the perfect stage for events” when it follows Serbia and China as a host nation. The next World Indoor Championships are scheduled for Belgrade in March, and Nanjing is then set to host the event a year later. Nanjing was originally due to be host in 2020 before that was moved due to the coronavirus pandemic.
UK athletics chair Ian Beattie said: "We are delighted to be awarded the opportunity to host the 2024 World Athletics Indoor Championships. World Athletics have demonstrated their confidence in the UK to host global athletics championships once again, and history has shown time and time again our ability to deliver amazing events.
"We're thrilled with the outcome and look forward to a successful championships working alongside our partners that will truly give all athletes a fantastic stage upon which to perform."
Bidding began in March with final presentations earlier in the autumn and Glasgow was selected ahead of alternatives in Poland and Kazakhstan. The city will warm-up for the three-day event by hosting the new mixed-gender meeting, the ‘Dynamic New Athletics’on Saturday, February 5, next year.
“In an era where Scottish athletes are shining on the world stage, I am delighted that Glasgow has been chosen to host this major, global event,’ said David Ovens, Chair of scottishathletics.
“I want to say thank you to the event partners: Glasgow Life, Event Scotland, UK Sport and UK Athletics, who have worked extremely hard to pull the bid together.
“Glasgow has a fine tradition of hosting fantastic events and I am certain that the World Indoor Championships in 2024 will be no exception.”
In hosting the event World Athletics also suggests an economic benefit running into millions, with Birmingham seeing various sectors, particularly hospitality, boosted in 2018 by more than £7m.
Ms Sturgeon said: "I'm delighted that Glasgow has been chosen to host the prestigious World Athletics Indoor Championships in 2024.
"This will underline Scotland's global reputation as the perfect stage for events and is welcome news as we look to recover from the pandemic."