World Rugby chairman Bill Beaumont said: "The World Rugby U20 Championship is proving to be an enormously popular and important tournament and it plays a key developmental role in preparing the future stars of the game.
"Rugby is growing at an incredible rate in Georgia and interest is at an all-time high. I have no doubt that we'll see passionate and energetic crowds in Tbilisi and Kutaisi next year as all 12 teams put on a masterclass for fans.
"With preparations continuing for Rugby World Cup 2019, many of the players we see in Georgia could also feature on the greatest stage in Japan in just under three years' time."
Georgia Rugby Union president Gocha Svanidze said: "The whole country is excited about the fact that in less than a year's time, we will host the future stars of world rugby in Tbilisi and Kutaisi.
"Fans from all over the world can now plan their journey to Georgia to support the future stars of world rugby and experience the world famous Georgian hospitality. We all are determined that, along with the support of our national government and World Rugby, this will be one of the most successful U20 Championships."
More than 430 players have made the step up from the U20 Championship to the international arena since the tournament (formerly JWC) began in 2008.
Three teams have lifted the coveted trophy - New Zealand (2008-11 and 2015), South Africa (2012) and England (2013, 2014 and 2016).
The nine captains to have lifted the coveted trophy are Chris Smith (New Zealand, 2008), Aaron Cruden (New Zealand, 2009), Tyler Bleyendaal (New Zealand, 2010), Luke Whitelock (New Zealand, 2011), Wiaan Liebenberg (South Africa, 2012), Jack Clifford (England, 2013), Maro Itoje (England, 2014), Atu Moli (New Zealand, 2015) and Harry Mallinder (England, 2016).