The event, the culmination to the ITU's flagship World Triathlon Series, crowns world champions and will return to Edmonton after the Albertan city hosted the event in 2014.

Edmonton also staged the World Championships in 2001 when it was a stand-alone event.

"Edmonton has been a staple city on the ITU calendar for many years," ITU President and International Olympic Committee member Marisol Casado said. 

"The city provides unprecedented support to the event, while the local Organising Committee offers an exceptional experience for both elite and age group athletes. 

"It will be a fantastic place to end the 2020 season after the Tokyo Olympic and Paralympic Games."

This year's Grand Final was held in Cozumel in Mexico with Dutch city Rotterdam set to play host in 2017.

Gold Coast, the host of the 2018 Commonwealth Games, will stage the event in the same year before it moves to Swiss city Lausanne, the Olympic capital, in 2019.

Edmonton was a failed bidder when the ITU opted for Lausanne in June, the city in which the governing body is based.

More ranking points are available at the Grand Final than at regular World Triathlon Series races, making it the flagship occasion on the ITU's calendar. 

"Hosting major events is critical to the growth and future success of our sport in every corner of this country," said Triathlon Canada President Les Pereira.

"The Grand Final is the premiere ITU triathlon event, so this is a huge victory for Canada, and an exciting day for our sport.

"Edmonton has a rich history in staging world-leading triathlon events, and as a result, has ignited the Olympic and Paralympic dream for many of our elite Canadian athletes who have watched the world’s best compete at Hawrelak Park in past years."

Official dates for the 2020 Grand Final are yet to be confirmed. 

Edmonton was also a contender for the 2022 Commonwealth Games, but its bid was withdrawn due to falling oil prices.

South African city Durban was instead awarded the event after being left as the sole candidate.