New Zealand will defend its junior world championship title in South Africa in June next year.
Cape Town and Stellenbosch will host the under-20 tournament between June 4-22, and New Zealand, unbeaten the tournament's history, will again be favoured to win.
In a change from recent championships, the 2012 event will feature just two venues - the University of Western Cape Stadium in Cape Town and Danie Craven Stadium in Stellenbosch - with triple-headers being played across five match days to maximise crowds and create a "festival format'', said the International Rugby Board.
New Zealand has Fiji, Wales and Samoa in its pool.
The world championships are an important stepping stone to full internationals, with several former players taking part in this year's World Cup, including All Blacks Aaron Cruden, Zac Guildford and Sam Whitelock, Australia's David Pocock and Will Genia, England's Courtney Lawes and Ben Youngs and Wales' youngest ever World Cup captain Sam Warburton.
The IRB said the South Africa Rugby Union was committed to delivering a tournament which would build on the record-breaking 2011 edition staged in the Veneto region of Italy which was screened live by 19 broadcasters to 142 territories.
IRB Chairman Bernard Lapasset said: "The IRB junior world championship has grown to become one of the most eagerly anticipated events on the global rugby calendar, delivering a competitive development pathway for our unions as well as a fantastic competitive product which has proven a hit with fans and broadcasters.''
IRB junior world championship 2012 pools:
Pool A: New Zealand, Fiji, Wales and Samoa
Pool B: England, South Africa, Ireland and Italy
Pool C: Australia, France, Argentina and Scotland