Queensland will host the ICC U19 Cricket World Cup 2012 for the first time ever in an event which will see the best young cricket talent in the world playing in Brisbane, on the Sunshine Coast and in Townsville next year.

The event was secured through a partnership between Events Queensland, Cricket Australia and Queensland Cricket, and is only the second time in the event's 24-year history that it will be held in Australia.

"This event will deliver an economic shot in the arm to the host communities and showcase Queensland to the world - attracting 400 players and officials from 16 countries and generating an expected 7,000 bed nights for the local tourism industry," Premier Anna Bligh said.

"In addition, it will be televised into the homes of cricket fans in more than 100 countries including in Asia, the UK and South Africa via broadcaster ESPN STAR Sports."

Sports Minister Phil Reeves said the event - held every two years - had also previously been held in countries including New Zealand, Malaysia, Sri Lanka, Bangladesh and South Africa.

"This is a truly international event that further cements Queensland's status as the Australian events state," Mr Reeves said.

"It's particularly exciting to be hosting it in 2012 because Australia is the current defending champion after winning the ICC U19 Cricket World Cup in New Zealand in 2010."

Queensland Cricket CEO, Graham Dixon said the U19 event will help with preparations to host the senior World Cup in 2015.

"Queensland Cricket is acutely aware that the ICC World Cup will be staged in Australia and New Zealand in 2015 and so tournaments like the Under-19 World Cup are an important proving ground for us, and for Cricket Australia, as it gets closer to hosting that major event."

The event will be held in August next year. Further details of venues, ticket sales and match timings will be announced closer to the tournament.

The tournament will be the ninth ICC U19 Cricket World Cup which started in 1988 with the inaugural event in Melbourne.

Australia has won the event three times - taking home the inaugural title in 1988, then again in 2002 and also last year's event in New Zealand.