The venue has been appointed for the athletics event , which includes indoor work completed in September. External works including a new glass façade overlooking the canal are due to be completed in winter 2014.
Phil Mead, managing director of arenas for the NEC Group, said: "This is a fantastic endorsement for British athletics, for Birmingham and for the NIA, and testament to our collaborative approach to this bid.
"We have specifically designed the arena to ensure that it is purpose built for exactly this type of top flight sporting event, and I am absolutely confident that Birmingham will deliver the most successful IAAF World Indoor Championships ever."
As part of the sporting event, which is estimated to bring an economic boost of £20m to the city, a mass participation 10km public race is planned to engage the community beyond the championships' spectators.
Lord Sebastian Coe, IAAF vice president, said: "The IAAF recognised that the Birmingham bid was a winner and the council was delighted that the city was happy to be awarded the World Championships in 2018.
"For athletics in the UK it makes great strategic sense, giving us an amazing opportunity to maintain the incredible momentum athletics has built up in the UK."
Britain is already hosting the IAAF's World Half Marathon competitions in 2016 in Cardiff, as well as the World Championships in Londonin 2017.
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