Riyadh will host the final of the 2020 International Basketball Federation (FIBA) 3x3 World Tour.
The announcement means yet another event will take place in Saudi Arabia as the country makes a huge push to increase its sporting portfolio.
FIBA have also confirmed that the regular season will feature 13 events, or Masters, the highest number ever.
The season-opener in Doha on April 2 and 3 will be the earliest World Tour action ever, while the final in Riyadh on dates to be confirmed in November will be the latest.
Total prize money has also been increased from $2.1 million (£1.6 millon/€1.8 million) to $2.8 million (£2.1 million/€2.5 million), for what will be the ninth edition of the circuit.
The expanded Tour comes with 3x3 basketball set to make its Olympic debut at Tokyo 2020 this year.
"It is a big year for 3x3 and we're excited to see our number one competition – the FIBA 3x3 World Tour – continue to expand so quickly," said FIFA 3x3 managing director Alex Sanchez.
"We're proud to attract new amazing cities like Riyadh for the Final and – at the same time – to return after many years to exceptional cities where World Tour history was made."
The World Tour was launched in 2012 and features teams representing cities.
They qualify for the Masters through worldwide tournaments and the FIBA 3x3 team ranking.
After the 2020 opening in Doha, the new season will move from Qatar's capital to Manila in the Philippines between May 2 and 3.
Chinese city Chengdu will host from May 30 to 31 and Mexico City will be the stop on June 20 and 21.
Utsunomiya in Japan will take centre stage between July 11 and 12, the last event before Tokyo 2020.
The circuit will then move to Czech capital Prague on August 1 and 2, Swiss Olympic capital Lausanne on August 21 and 22 and Hungarian city Debrecen on August 29 and 30.
Montreal in Canada will be the venue on September 5 and 6, Los Angeles will host on September 19 and 20 and a yet to be decided Chinese city will welcome action on October 17 and 18.
A Middle Eastern end to the season will see competition in Saudi city Jeddah on October 23 and 24, Abu Dhabi on October 30 and 31 and then the final in Riyadh.
"For the fans, the FIBA 3x3 World Tour will be the best preview of our urban discipline at the Games," Sanchez added.
"It will also be the ultimate preparation for the best 3x3 players in the world before the Olympics.
"In fact, we will arrive in Japan two weeks early, with the fifth Masters of the season in Utsunomiya, followed by a Pre-Olympic Acclimatisation Camp for our best athletes to get used to the Japanese climate and deliver the best show possible to the fans."
Serbia's Novi Sad won their fourth title on last year's World Tour, winning the final in Utsunomiya.
A dunk contest and shoot-out competition take place at each World Tour event.