Former Sri Lanka wicketkeeper-batsman Sangakkara, who scored 12,400 runs in 134 tests, appears twice on the honours boards at Lord's.
He hit 147 in the drawn Test against England in 2014, and 112 in Sri Lanka's one-day international win on the same tour.
"It is a huge honour to be named the next President of MCC and it is a role that I am thoroughly looking forward to," the 41-year-old said in a statement.
MCC was founded in 1787 and has been based at Lord's, which it owns, since 1814. It is the guardian of the Laws of the game.
"For me, MCC is the greatest cricket club in the world, with its global reach and continued progress for cricket on and off the pitch," added Sangakkara.
"The year 2020 is going to be yet another significant one in cricket, especially at Lord’s, and I am thrilled that I am going to be able to play a part in supporting its future as President of MCC."
Sangakkara's tenure will include another busy year at Lord's next year, with two England test matches against West Indies and Pakistan and the launch of The Hundred - the England and Wales Cricket Board's new 100-ball cricket format.
(Reporting by Hardik Vyas in Bengaluru; Editing by Ken Ferris)
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