The Brazilian bid prevailed against the submission from Belgium, Germany and the Netherlands, becoming the first nation to be handed a hosting rights with an open vote at the FIFA Congress.
Brazil obtained 119 votes while a joint bid from Germany, the Netherlands and Belgium received 78 votes.
The Women's World Cup will be held for the first time in South America. China, Sweden, the USA, Germany, Canada and France all hosted on at least one occasion prior to the 2023 event.
Previously, Brazil organised the men's World Cup in 1950 and the 2014 World Cup.
"Today we are experiencing a historic day in Bangkok. This is a victory for world women's football. I assure you all that Brazil it will be the best Women's World Cup in history", said Brazilian Football Confederation president Ednaldo Rodrigues.
"In addition to investing in the World Cup, the entire women's football production chain in Brazil and North America South will take an immense leap in development," he added.
It will be the tenth edition of the FIFA Women's World Cup. It will feature 32 countries and will be played across ten cities.
Spain are the current FIFA Women's World Cup holders, joining USA (four titles), Germany (two), Japan and Norway as the nations who have lifted the much-coveted trophy.