The decision was made during the FIFA conference in Bangkok on Friday.
Brazil faced a joint bid from Belgium, the Netherlands and Germany to host the tournament within three years.
This is the first time that the Women's World Cup has been held in South America.
The Brazilian women's national team has participated in every World Cup final since the first edition in 1991, but has never won. In 2007, there was a final loss to Germany.
– Now I feel very happy, says Brazilian football president Ednalo Rodriguez.
211 football associations voted during the conference in the Thai capital.
The Norwegian Football Association was among the FIFA members who supported the application submitted to Belgium, the Netherlands and Germany.
In 2014, Brazil hosted the Men's World Cup and finished fourth after losing in the bronze final to the Netherlands. In 1950, Brazil cheated out of World Cup gold when they lost the final group stage match to Uruguay and finished second on home soil.
The 1950 tournament was also the last before Brazil switched from white to their familiar yellow and green kit.
Earlier on Friday, FIFA President Gianni Infantino dropped the vote to suspend Israel's membership.
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