First run in 1977, Rally Islas Canarias has been a mainstay on the European Rally Championship schedule since 2016. The asphalt rally will now move to the WRC calendar for 2025 and 2026, subject to World Motor Sport Council approval.
It follows a similar move by the WRC to elevate Tet Rally Latvia and Rally Poland from the ERC to the WRC for this year.
The news ensures Spain will once again feature in the WRC after Rally Catalunya dropped off the calendar following the 2022 edition.
"Bringing the Rally Islas Canarias to the WRC has been the reward for many years of work. It was a goal desired by several generations, and now, together with WRC Promoter, it has become within reach", said German Morales, CEO of the event promoter Club Deportivo Todo Sport.
WRC Promoter managing director Jona Seibel, added: "Since adding the European Rally Championship to our portfolio of championships, we have been left with little doubts about the capabilities of the rally management team to run this rally next year on the WRC calendar.
"We are enthusiastic about having Spain back on the WRC calendar and are encouraged to see our clearly defined strategy to have an opportunity for ERC events to have a pathway to WRC coming to fruition as Rally Islas Canarias follows on from Latvia and Poland in 2024."
The announcement comes at a time when the WRC has been inundated with proposals from various nations wishing to join the calendar.
It is anticipated that the championship will expand to 14 events next year, although it is unclear what round the Canary Islands will replace.
Saudi Arabia, Ireland, Paraguay and Argentina are understood to be in the running for a place on the 2025 schedule, with a decision surrounding the future of these events expected in the coming months.
The WRC has previously revealed it is confident that a Middle East round will feature as part of next year's calendar.
The championship's promoter also travelled to Ireland last month to inspect its proposed locations to host the WRC from 2025-2027. Ireland's bid is subject to securing 15 million euros in government funding.
The USA has also launched a bid to join the championship but is targeting a berth in 2026.