Ahly lost 2-0 to Bayern Munich in the semi-final of the FIFA Club World Cup last February (File photo: AFP)
"The virtual event will be streamed live on FIFA.com for all territories," FIFA said in a statement.
The competition is scheduled to take place in the United Arab Emirates early next year but an exact date hasn't been determined yet, FIFA added.
The Club World Cup is usually played in December but this is the second successive year in which it has been delayed -- the 2020 edition in Qatar was played in February this year.
A February start date seems most likely given the Africa Cup of Nations will be staged in Cameroon from 9 January to 6 February.
Chelsea will be Europe's representative after winning last season's UEFA Champions League, while Ahly of Egypt are also confirmed participants. The Cairo giants finished third in the previous edition.
South America will be represented by either Palmeiras or Flamengo, with the Brazilian duo meeting in the Copa Libertadores final.
Bayern Munich won the most recent edition of the Club World Cup, which has been held in the UAE on four previous occasions, most recently in 2018 when Real Madrid were the winners.
A lucrative, revamped 24-team Club World Cup, including eight sides from Europe, was due to be played in China this year before the pandemic put that project on hold.
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