FIFA announced the decision to remove Indonesia as host on March 29 after the country's FA cancelled the draw to be held in Bali as its governor refused to host Israel's team.
The Argentine FA formally submitted its bid to host the May 20th-June 11th tournament one day later at the South American Football Confederation Congress.
"I would like to thank the AFA, its President Claudio Tapia, as well as the governmental authorities, for their commitment to hosting this magnificent event at such short notice," FIFA President Gianni Infantino said.
"Having this year's edition taking place in a country that lives and breathes football will be a tremendous inspiration for the stars of tomorrow."
FIFA added that the official draw for the tournament will take place on Friday in Zurich.
Argentina hosted the under-20 World Cup in 2001 when they won the fourth of their record six titles.
They are also seeking to jointly host the World Cup finals in 2030 with Uruguay, Chile and Paraguay.
