Glasgow and Birmingham will share the hosting of the Indoor Grand Prix between 2016 and 2020.
The Emirates Arena in Glasgow will stage the athletics event in 2016, 2018 and 2020.
And Birmingham's Barclaycard Arena will host in 2017 and 2019, with the Midlands venue also hosting the IAAF World Indoor Championships in 2018.
This year's Indoor Grand Prix will take place in Birmingham on 21 February, with live coverage across the BBC.
As one of the bidding cities, Glasgow is also a possible host for the 2019 European Indoor Championships.
British Athletics chief executive Niels de Vos said: "Following the construction of the Emirates Arena in Glasgow and the extensive redevelopment of the Barclaycard Arena in Birmingham, we are in the fortunate position of having two genuinely world-class indoor athletics venues capable of hosting events on this scale."
Great Britain middle-distance runner Laura Muir welcomed the event being staged in her Scottish homeland.
"The Commonwealth Games were such a success last year and the facility is great for hosting indoor events," she told BBC Scotland.
"It is one of the best indoor meets in the world, so to have it here would be great.
"It is always good to have home support, whether it is down south or up in Scotland."