The announcement has been made following this year's awards, which were held at the Hilton London Metropole on Sunday (November 13).

Her Serene Highness Princess Charlene of Monaco attended the glittering event in the British capital, and is looking forward to her principality playing host from next year.

"Rugby is a sport that is close to the hearts of my family and so we are very excited to be bringing the World Rugby Awards to the principality next year," she said.

Albert II, the Prince of Monaco who is a member of the International Olympic Committee (IOC), is a known fan of rugby.

World Rugby chairman Bill Beaumont believes that the principality will be an ideal location for the awards ceremony.

"The World Rugby Awards celebrate the very best of our sport and Monaco is a fitting location for what promises to be a very special celebration of rugby," he said.

"I would like to thank their Serene Highnesses Prince Albert and Princess Charlene of Monaco for their commitment and enthusiasm in welcoming the awards to Monaco and we look forward to welcoming the global rugby family to the principality in November 2017."

New Zealand's Beauden Barrett was crowned as men's player of the year in London on Sunday, after the fly-half enjoyed an outstanding 2016.

He helped his country regain The Rugby Championship crown and the All-Blacks did it in style, winning all six of their matches against southern hemisphere rivals Australia, South Africa and Argentina with the four-try bonus point.

This success also allowed New Zealand's men to be named as team of the year, while their manager Steve Hansen collected the coach of the year gong.

The women's player of the year prize was awarded to England's number eight and captain Sarah Hunter.