The decision, announced by the European Swimming Federation (LEN) following a Bureau meeting in the Hungarian capital, means Budapest will now host three major continental events in four years time.

They will also host the European Water Polo Championships in January and the European Open Water Championships in June on Lake Balaton.

The city, currently bidding to host the 2024 Summer Olympic and Paralympics Games, hosted an International Swimming Federation (FINA) World Aquatics Gala in January and is the location for next year's FINA World Championships.

Action at the 2020 Europeans will take place in the brand new, state-of-the-art aquatic centre which is under construction for the 2017 World Championships. 

It features two Olympic size pools and a diving pool, and will accommodate 5,000 spectators in 2020, down from 15,000 at the World Championships.

“The decision the Bureau took today is an appreciation toward the commitment and dedication and the hard work Hungary are doing for aquatic sports.” LEN President Paolo Barelli said following the meeting.

“The Hungarian organisers proved a handful of times in the past that they were capable of delivering really high level events in all disciplines.

"We are always happy to return here as we will have another world-class facility, and you can hardly find any other place where you have so many training pools in such a close proximity as in Budapest.”

The European Aquatics Championships should follow two editions taking place in Great Britain.

London hosted this year's event, while Glasgow is due to play host in a 2018 edition doubling as the inaugural European Championships for seven different sports.

The Hungarian bidders also offered to organise the first ever high diving Europeans on August 20 - a national holiday in Hungary - using the same temporary facility they are constructing for the 2017 Worlds. 

“We have the Worlds next year, the junior swimming Worlds in 2019 and now we are honoured to become the hosts of the 2020 Europeans," said Hungarian Swimming Association President Tamas Gyarfas.

"We will do our utmost to bring our best once again.

“And we have to find something for 2021…”

Kyiv was also awarded the 2017 European Diving Championships during the Bureau meeting.

This is now set to be the first ever senior European aquatic event in Ukraine.