The tournament, originally due to be played last year, originally saw Argentina and Colombia selected as hosts.
With less than two weeks to go before the Copa gets underway, the pressure was on for Conmebol to find a new host.
And they confirmed on Monday afternoon via Twitter that, with the help of the Brazilian Football Federation as well as president Jair Bolsonaro, an agreement had been reached for Brazil to stage the competition.
Conmebol further confirmed that the fixture list would be confirmed in the coming hours and dates were already set.
The 10-team tournament sees two groups of five, with four from each group progressing to the knock-out phase.
Brazil are the reigning champions from the 2019 tournament, which the same nation also hosted.