The Laver Cup event between Europe and the rest of the world is to become an officially sanctioned ATP Tour event.
The competition, backed by 18-time men's Grand Slam winner Roger Federer, has taken place twice, in Prague and Chicago, on an exhibition basis.
"It's wonderful to know that the Laver Cup will be part of the tour that I've dedicated more than 20 years of my life to," said Switzerland's Federer, 37.
This year's competition will take place in Geneva from 20-22 September.
The Laver Cup, which has been won by Team Europe both times, will not have any ranking points but, being an ATP event, will mean it gets the same back-up and logistical support as other tour events.