The International Judo Federation, the sport's governing body, has reached agreement with the Hungarian Judo Association for Budapest to host a Judo Grand Prix event annually for three years, beginning this year.
The inaugural Budapest Judo Grand Prix will be staged on June 21 and 22.
The Hungarian capital hosted judo's European Championship in 2013, and is home to the IJF's presidential office.
According to the IJF calendar, 12 Judo Grands Prix will be held in 2014, the first of which will be in Dusseldorf, Germany next month.
In addition to Budapest, other events will be staged in: Samsun (Turkey); Tbilisi (Georgia); Havana (Cuba); Ulaanbaatar (Mongolia); Rijeka (Croatia); Astana (Kazakhstan); Tashkent (Uzbekistan); Abu Dhabi (UAE); Qingdao (China); and Jeju (South Korea).