The announcement was made as the IOC meets in Lima, Peru
The International Olympic Committee (IOC) has confirmed that the next two games will be held in Paris and Los Angeles respectively.
The French capital is to host the games in 2024 and the US city will do the same in 2028.
IOC President Thomas Bach said: "Congratulations to Paris 2024 and Los Angeles 2028.
"This historic double allocation is a 'win-win-win' situation for the city of Paris, the city of Los Angeles and the IOC.
"It is hard to imagine something better. Ensuring the stability of the Olympic Games for the athletes of the world for the next 11 years is something extraordinary," he added.
The Mayor of Paris, Anne Hidalgo, said: "Today I am delighted to invite you to join the great family of Parisians, a family which belongs to the world.
"With this team, I am very proud and moved to bring the games back to Paris. At the heart of these games, we will place young people, who represent our present, our hope and our pride."
And Eric Garcetti, the Mayor of Los Angeles, added: "Bringing the Olympics back home to LA gives us the chance to imagine what our city will look like a decade from now.
"LA is a city where the Games are not a barrier to making progress; we know that they are an accelerating force to re-envisioning a better city and a better world in the days ahead as we welcome you back to the City of Angels."
The IOC says Los Angeles, Paris and their National Olympic Committees have been working together in order to reach the agreement that was ratified by the IOC on Wednesday.
It says the two cities have "put together very inspiring projects."
The next Olympic Games will be held in Tokyo in 2020.