Saudi Arabia will hold the scheduled G20 summit online on November 21 and 22 and not in the Saudi capital Riyadh.
Saudi Arabia currently chairs the Group of 20.
Summit organisers said on Monday they planned to build on the success of the virtual special G20 summit at the end of March and on the results of more than 100 virtual working groups and ministerial meetings.
The summit with the motto "Realising the opportunities of the 21st century for all" will focus on protecting lives and re-stimulating growth.
The G20 encompasses two thirds of the world's population, 85 per cent of global economic output and 75 per cent of world trade.
Its members include the European Union, the United States, China, Russia and Australia.
The G20 brings together the leaders of both developed and developing countries from every continent.
Saudi Arabia said the G20 is leading the fight against the coronavirus pandemic and is taking swift and unprecedented action to protect lives, livelihoods and those most vulnerable.
With its one-year chairmanship of the G20, Saudi Arabia wants to focus on issues such as women and climate protection.
The originally planned in-person meeting in Riyadh would have been the first regular G20 summit in the Arab world.
Saudi Arabia's King Salman had issued an invitation for the video summit instead in March.
The heads of state and government of the leading economic powers have agreed to work together to fight the coronavirus crisis.
Australian Associated Press