Shortlisted cities Birmingham, Norwich and Sheffield also attended the event, hosted by Minister for Culture Ed Vaizey and independent advisory panel chair Phil Redmond.
The UK City of Culture was launched by the government following Liverpool’s success as European Capital of Culture in 2008.
The competition will see Londonderry, also known as Derry, devise a programme of events and projects designed to showcase its culture and raise its profile. It will aim to encourage increased private investment and regeneration.
Vaizey said: "This is a truly great moment for Derry/Londonderry. The panel were unanimous in their recommendation because of the city’s compelling cultural programme, the way it seeks to address the city’s past and the enthusiasm and commitment of the city and its supporters."
Redmond said: "The panel was unanimous in its choice of Derry/Londonderry. The programme suggested was impressive, as were the plans for community engagement, economic investment and the development of digital technology. It was also the way all these elements had been woven together through a strong and compelling narrative about the city and its people."