It will be the country's fifth staging of the biennial competition since its inception in 1957.
Cameroon was stripped of the right to host the event last month after Caf executives decided the football grounds and infrastructure were unlikely to be ready for the event which starts on June 15.
Egypt, which has won the title a record seven times, boasts the 72,000 seat Cairo International Stadium and Borg El Arab Stadium in Alexandria which can house 87,000 spectators.
However security and weather will be two of the main challenges facing Egypt in the first Cup of Nations to feature 24 teams.
Egypt faces a constant terror threat and the weather during the tournament is expected to be hot and humid.
Algeria, Egypt, Ghana, Guinea, Cote D'Ivoire, Kenya, Madagascar, Mali, Mauritania, Morocco, Nigeria, Senegal, Tunisia and Uganda have qualified for the tournament.
The other 10 places will be filled after the final round of qualifiers on 18 and 26 March.