It will be only the second time the showpiece event has been hosted in Asia, following Maebashi, Japan in 1990.
"I am delighted that the 2017 UCI Track Cycling World Championships will be held in Hong Kong," UCI president
Brian Cookson announced at a news conference at the London velodrome currently hosting this year's championships.
"The fact that the event is going to Asia for the second time marks an important milestone in the further globalisation of track cycling."
Hong Kong won its first ever Olympic medal in cycling in London four years ago when Lee Wai Sze took bronze in the women's keirin. She also won a world silver medal on Friday in the women's 500m TT at the London velodrome.
Hong Kong also recently hosted a round of the 2015/16 UCI World Track Cup.