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A seven-year agreement through to 2023 has been signed, which will see the lucrative tournament renamed the WGC-Mexico Championship.
Next year's championship in Mexico will be held in March, at a venue yet to be confirmed.
The World Golf Championship had been staged at Trump National Doral in Miami since 2007, with Australian Adam Scott taking out this year's edition.
"Since the debut of the World Golf Championships in 1999, the intent has always been to conduct these tournaments around the world," said PGA TOUR Commissioner Tim Finchem.
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"Once it became apparent that we would not be able to secure sponsorship at levels that would sustain the event and help it grow at Trump National Doral, we began having serious discussions with Ricardo and Benjamin Salinas, who expressed strong interest in bringing a tournament to Mexico City to benefit golf and its development throughout Mexico.
"We are very excited about this new opportunity and what it brings to the World Golf Championships."
Following the announcement, Trump National's owner and United States presidential candidate Donald Trump hit out at the PGA Tour.
"I mean I just heard that the PGA Tour is taking their tournament out of Miami and moving it to Mexico as an example," said Trump, who has been outspoken in his controversial views of Mexico.
"They're taking it — it's at Doral, it's at — they used one of my places. They're moving their tournament. It's the Cadillac World Golf Championship, and Cadillac has been a great sponsor, but they're moving it to Mexico.
"They're moving it to Mexico City which, by the way, I hope they have kidnapping insurance [referencing the kidnapping of professional footballer Alan Pulido earlier this week]."