The 17th Conference of Parties of the United Nations Framework Convention on Climate Change is set to attract more than 30,000 delegates.
It will take place between 28 November and 9 December next year.
Delegate spend at the event is estimated to be worth more than £27m, according to the Durban KwaZulu-Natal Convention Bureau.
ICC Durban acting chief executive Jeremy Hurter said: "Hosting an event of this calibre and magnitude will leave a lasting legacy in terms of sustainability for the city. Based on our track record, the ICC Durban and the city of Durban have absolute confidence that we can host an event of this size."
Durban will also host the International Olympic Committee and UN’s seventh World Conference on Sport Culture and Education next month.
The last COP conference took place in Copenhagen in 2009 and attracted more than 20,000 people. This year’s conference will be hosted in Cancun, Mexico.