Chief Executive Jacques Faul, confirmed the decision and said that it was an exciting news and also highlighted the benefits for South Africa by hosting the tournament.
"This is very exciting news for South African cricket," commented Faul.
"It once again underlines the faith the international cricket community has in CSA to organise major international events and also adds tremendous value to the package our various sponsors and affiliates are able to offer the fans in their regions.
"The financial benefits for the game in this country are also substantial and we look forward to welcoming some of the best players from around the world to our country once again."
The Champions League T20 into its fourth year, was held in South Africa in the year 2009, while the other two editions were played in India and South Africa has been expressed its pleasure in the Champions League Governing Council's decision to host the prestigious tournament in the country.
The event is scheduled to begin in the second week of October after the conclusion of the ICC World T20 in Sri Lanka.
Faul also welcomed the changes made to the playing conditions for ODI matches during ICC's annual conference held at Kuala Lumpur.
Cricket South Africa will be represented by MiWay T20 Challenge winners, the Nashua Titans and Highveld Lions who finished at the top of the round-robin table.
Pakistan's Sialkot Stallions will be playing for the first time in the tournament while other teams who are a part of this tournament are IPL teams Kolkata Knight Riders, Chennai Super Kings, Delhi Daredevils, Mumbnai Indians (all IPL teams); Australia's Sydney Sixers and Perth Scorchers; New Zealand's Auckland Aces and Trinidad & Tobago from West Indies.
Meanwhile, CSA will announce the venues and the fixtures of the Champions League T20 in due course after their discussions with the prospective hosting affiliates.