Dublin has been selected to host the summit for the first time following a bid against Hong Kong and Edinburgh.
Up to 2,000 delegates, aged between 18 and 30 years, are expected to attend the event from more than 180 countries, which is estimated to be worth £2.5m to the Irish economy.
Outside of the Olympic Games, no other youth event brings together more delegates from more countries for a single event.
The event aims to debate and provide solutions on pressing global issues in a range of areas including education, human rights, health, global business, sustainable development, leadership and governance.
The event was set up in 2009 and, after each summit, the One Young World Ambassadors continue to work on the initiatives discussed to create positive change on a global level. There are currently 130 projects involving 100 countries in action and, to date, almost four million people have been directly impacted by the work of One Young World Ambassadors.
The CCD’s CEO Nick Waight said: "The CCD launched a new vision this year – ‘to be the world’s favourite place for leaders, innovators and dreamers to share, create and celebrate ideas that change lives’.
"This event is the perfect epitome of our vision, and we are delighted that such a dynamic, inspiring event has chosen The CCD as the backdrop to stimulate positive change on a global scale."