Rio de Janeiro: Rio has been named as the host city of the Laureus World Sports Awards for 2013 and 2014, the Laureus Academy announced.
The globally televised event, considered the Oscars of international sports, will give Rio the chance to showcase itself to the sporting world ahead of the 2014 football World Cup and 2016 Olympics.
It will be the first time the event has been held in the southern hemisphere since it began in 2000.
The gala ceremony will be held at Rio`s Municipal Theatre, which hosted this year`s UN Rio+20 summit and was the venue for US President Barack Obama`s speech during his visit to the city last year.
Previous Laureus recipients include Usain Bolt, Tiger Woods, Roger Federer, Michael Schumacher and Serena Williams.
"This further enhances the extensive calendar of international events that Rio will host in the coming years, like the World Judo Championships, the FIFA World Cup and the 2016 Olympics and Paralympics," Rio de Janeiro-state governor Sergio Cabral said.