The 12th edition of the 16-team tournament and the third in New Zealand, which will run from January 13 to February 3 across four cities and seven venues, is a platform to inspire the next generation of cricketers and fans.
"It is extremely exciting to be involved again in the U19 World Cup. I played two of them - it is the first stepping stone to playing international cricket," said Anderson, who played in the U-19 World Cups of 2008 (in Malaysia) and 2010 (in New Zealand).
"To have it in our backyard is great. We are going to see players who people may not know now but who in the years to come will become household names. In 2010, it was my first snippet of playing international cricket at home."
Anderson, who scored 324 runs in 10 matches with four half-centuries across the two editions of the tournament, has been representing New Zealand regularly in all three formats of the game.
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The 26-year-old all-rounder made his international debut in 2012 and to date has scored 683 runs and bagged 16 wickets in 13 Tests, accumulated 1109 runs and grabbed 60 wickets in 49 ODIs, and has 432 runs and 14 wickets in 29 T20Is.
ICC Head of Events, Chris Tetley said: "Having Corey on board is ideal because he a player who has come through this very system and hails from New Zealand.
"The ICC U19 World Cup is an extremely important event for us and our investment in it has been proven worthy time and again with so many top players first catching the world's attention here."
Present Test captains Virat Kohli of India, Steve Smith of Australia, Joe Root of England, Kane Williamson of New Zealand, Sarfraz Ahmed of Pakistan and Dinesh Chandimal of Sri Lanka have all figured in past ICC U19 World Cups.
Some of the former stars to have graduated from the U19 World Cup include Brian Lara (Windies), Michael Atherton (England), Michael Clarke (Australia), Virender Sehwag (India), Graeme Smith (South Africa) and Inzamam-ul-Haq (Pakistan).
Other current players to emerge from this tournament include Quinton de Kock and AB De Villiers (South Africa), Angelo Mathews (Sri Lanka), Kuldeep Yadav (India), Babar Azam (Pakistan), Josh Hazlewood (Australia), Chris Woakes, Moeen Ali, Alastair Cook (England) and Rashid Khan (Afghanistan).
Defending champions, the Windies, New Zealand, South Africa and Kenya make up Group A, three-time champions Australia and India, PNG and Zimbabwe are in Group B, Bangladesh, Canada, England and Namibia comprise Group C while two-time champions Pakistan, Sri Lanka, Afghanistan and Ireland are in Group D.
Australia staged the first tournament in 1986 and then again in 2012, while the other countries to host the tournament are South Africa (1998), Sri Lanka (2000 and 2006), New Zealand (2002 and 2010), Bangladesh (2004 and 2016), Sri Lanka (2006), Malaysia (2008), New Zealand (2010) and the UAE (2014).