'The Imitation Game' star has previously hosted the 2014 Awards in Kuala Lumpur and the 2015 ceremony in Shanghai.
"As an actor, I am asked to play a variety of characters, from legendary detective, a master of the mystic arts or an enigma code-breaking genius. None of those characters though have helped me discover who the winners will be at this year's Laureus Awards," said Cumberbatch.
"All of the nominations are fantastic and, along with a stunning Monaco location, home of the Formula One Grand Prix, I know it's going to be a very special night," he added.
The 2018 Laureus World Sports Awards will celebrate sporting success and achievement over the past calendar year, while also recognising the true value sport can have in uniting communities and acting as a positive force for change. (ANI)