ICC president Eshan Mani launched preparations for the tournament in Colombo, hailing Sri Lanka's eagerness to host the event just one year after the Asian tsunami killed over 30,000 and displaced one million people in the island.
"In December 2004, Sri Lanka was devastated by a terrible tragedy, yet 11 months later the country is preparing to welcome 15 overseas teams full of the best young cricketers in the world," Mani said.
"It shows Sri Lanka is moving forward after the massive problem that has confronted the country and this ICC U19 Cricket World Cup should prove the perfect stage to once again highlight all that is good about the island."
"Sport cannot compensate for such a tragedy, but the fact that this tournament is set to take place in Sri Lanka sends a wonderful and very positive message to the rest of the world."
The ICC under-19 World Cup has previously been held in Australia (1988), South Africa (1998), Sri Lanka (2000), New Zealand (2002) and Bangladesh (2004).
Previous winners are Australia (1988 and 2002), England (1998), India (2000) and Pakistan (2004).