The six-nation tournament, not held since May 2000 due to political tensions between India and Pakistan, will be organised between July 15 and August 1, according to Sri Lanka Cricket spokesman Mohan De Silva.
The tournament was originally scheduled to be held in Pakistan in late April soon after India's tour of that country which starts in March.
However the idea was dropped after India said it had a commitment to play a Test series in Bangladesh soon after the Pakistan tour.
The continent's four Test-playing nations - India, Pakistan, Sri Lanka and Bangladesh - will contest the Asia Cup along with qualifiers Hong Kong and the United Arab Emirates.
Sri Lanka has been chosen as the host nation for the revival of the sub continent's flagship limited-over cricket tournament the Asia Cup.
