A deal struck between the Irish government and European Tour organisers will bring the biennial tournament between Europe and the USA to Limerick.
The event was last staged in Ireland at the K Club near Dublin in 2006.
It's believed the cost to the Irish government will be tens of million of euros, but the benefit to the economy is estimated at more than 160m euros.
As part of the deal, which is set to be rubber-stamped at an Irish cabinet meeting in Donegal, the future of the Irish Open has also been secured until 2026.
That tournament will continue to be staged on a rotational basis between Northern Ireland and the Republic of Ireland.
Irish sports minister Shane Ross told BBC Sport earlier this week that Shane Lowry's victory in The Open at Royal Portrush would help its bid to stage the 2026 event.
"Irish sport and Irish golf is really excelling now," said Ross, who was at Portrush for the final round on Sunday.
"We would absolutely love to see Shane teeing off, and other Irish players, in Adare. It would be absolutely superb."
The County Offaly player secured his first major success thanks to a six-shot win at the Northern Ireland links.
Lowry said his "main goal" is making his Ryder Cup debut in Padraig Harrington's team to take on the Americans at Whistling Straits next year.
Europe will defend their title after a 17½-10½ victory at Le Golf National in Paris last year.

Shane Lowry celebrates his Open triumph at Royal Portrush