The new state-of-the-art, dedicated facility, located on the University of Limerick campus will be purpose-built and is anticipated to be fully operational by 2015.
Matches will continue to be played along current fixture scheduling lines at Musgrave Park and Thomond Park, with plans in progress for an upgrade of facilities at the Cork venue where Munster Rugby will maintain its administration headquarters.
Proposals from LIT and CIT were also considered and Munster Rugby acknowledges the support and interest from both institutions throughout the procedure.
Munster Rugby Chief Executive Garrett Fitzgerald said. "We are very pleased that the process to identify this facility has been completed and confirmed.
"In looking forward to this new and enhanced association with UL, we acknowledge the interest we've had from LIT and CIT, the two other institutions who sought to accommodate Munster Rugby's need for this facility.
"We look forward to continuing a working relationship with LIT and CIT in the coming years through projects on-going and new."
UL President, Professor Don Barry, welcomed the announcement, saying: "I am delighted with Munster Rugby's decision to base itself permanently on the UL campus.
UNIVERSITY OF LIMERICK - IRELAND'S SPORTS CAMPUS:
- The University of Limerick is an independent, internationally focussed University with over 12,600 students and 1,400 faculty and staff
- UL recently launched Ireland's first Masters in Sports Performance
- UL is home to Ireland's first altitude training facility
- Swim Ireland's High Performance swim centre is based at UL.
- Home to Ireland's first Olympic size swimming pool
- Ireland's only indoor powered rowing tank is available at the UL Boathouse
- The UL Arena welcomes 600,000 visitors annually including national and international sports teams and sports professionals