The decision was taken by the Confederation of African Football (Caf) at its Executive Committee meeting in Accra on Friday.
CAF has announced that it will now allow one month for countries interested in hosting the tournament to submit their official bids.
The new host is expected to be named before the end of the year, a CAF executive committee member told Reuters.
"CAF will ensure that a new host is in place by 31st December, 2018, and it will communicate openly and transparently on the process and subsequent decision".
"Caf unequivocally reiterates its strong commitment to work closely with Cameroon's government authorities to mutually agree a new Afcon framework and timetable - should it agree to host a future edition", the statement concludes.More news: Video Surfaces Of Kareem Hunt Pushing Woman
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Decision as to who replace Cameroon was not taken.
CAF sent several inspection teams to Cameroon to check on the progress of the construction of five stadiums proposed for the tournament. "Beforehand, a joint Caf and Fifa Committee will travel to Cameroon in October to study security issues".
The Football fraternity and fans across the globe are expressing consternation, anger and sisappointment that Cameroon which has won the cup sereral time would prove unfit to host the tournament.
Though the tournament is scheduled to be held in June/July, its expansion from 16 teams to 24 means more facilities would have to be made available by the host nation.
African Cup hosting has been a major headache for CAF, with the last four tournaments not held in the country they were initially awarded to.