India was chosen as the host country for the mega event by the FIFA executive committee in its meeting at Salvador de Bahia in Brazil. South Africa, Ireland and Uzbekistan were the other countries in the running for the right to host the tournament.
By virtue of being the host country, India will take part in the 24-nation tournament for the first time in its history.
"Yes, India has won the right to host the 2017 Under-17 World Cup Football. It's official now," All India Football Federation General Secretary Kushal Das told PTI.
AIFF President Praful Patel described the development as historic.
"This is historic. This is what we have been waiting for. I need to thank the FIFA Executive Committee for keeping their trust on us and granting India the rights to host the 2017 U-17 World Cup," Patel said.
"I am also grateful to the Government of India for their support and giving us the necessary guarantees which made it possible for India to bid for the 2017 World Cup," he added.
United Arab Emirates hosted the tournament this year while Chile will be the host country for the 2015 edition.
India, whose submission of final bid documents were initially in doubt due to delay in getting government guarantees on various subjects, will be held in six venues which are to be selected from eight prospective cities -- New Delhi, Margao, Bangalore, Pune, Mumbai, Kolkata, Kochi and Guwahati.
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