England was awarded the hosting rights for the next three WTC finals (2027, 2029 and 2031) last year, with the England and Wales Cricket Board (ECB) selecting the venue for each edition.
This will be the second time The Oval hosts the WTC final, having staged the 2023 decider when Australia defeated India.
The 2027 final will hold added significance as it coincides with the 150th anniversary of Test cricket.
With less than a year remaining in the current WTC cycle, Australia lead the standings with a points percentage of 87.50, followed by defending champions South Africa (75.00).
Zealand (72.22) are third, while Bangladesh (58.33) have climbed to fourth after their 2-0 series sweep over Pakistan. India sit fifth on 48.15.
The race for the final resumes later this month, with West Indies hosting Pakistan from July 25, while Australia face Bangladesh in a two-Test series starting August 13.
ICC General Manager of Events and Operations Gaurav Saxena said the WTC Final has become one of the most prestigious events in world cricket and added that staging the 2027 final at The Oval during Test cricket's 150th year would make it "especially significant."
The first three WTC titles have been won by different teams, with New Zealand (2021), Australia (2023) and South Africa (2025) lifting the Test mace.
