The tournament, which will be played from 23 to 26 October, has received wide praise from both Australian and international golfers for the quality of the course over the two years it has been held.
2013 star player, Dustin Johnson from the US, said during the event that Lake Karrinyup was a great course, and both challenging and fun to play with its firm and fast greens.
Lake Karrinyup Country Club President Chris Carey said the team at the Club was proud and extremely excited to be the host venue for the 2014 Perth International.
"This event has grown year on year and we are confident it will again grow and prosper in 2014. Our course will again be in outstanding condition, and was recently named in the Top 10 golf courses in Australia.
"Lake Karrinyup general committee, members and staff will embrace the Perth International in 2014 and look forward to working closely with IMG, the Tours, the Western Australian Government and event corporate partners to ensure this is the best Perth International yet."
David Rollo, Vice President, Director of Golf, IMG Australia said they were delighted to have the opportunity to return to Lake Karrinyup Country Club.
"The venue has met with universal praise from the players over the past two years and no doubt Course Superintendent Trevor Strachan and his team will again present a wonderful course and a great test of golf."
Tourism WA CEO Stephanie Buckland added: "Lake Karrinyup Country Club has provided the perfect backdrop for Australia's richest golf tournament for the past two years.
"As a major sponsor of the event, Tourism WA is pleased that this picturesque but challenging course will be home of the Perth International again in 2014."
The Perth International is set to continue as Australia's richest tour event with a prize purse of US$2,000,000 and will again be the only Australian tournament to be co-sanctioned by the European Tour and the PGA Tour of Australasia.
Past winners of the Perth International are 23-year-old Korean Jin Jeong in 2013, and Bo Van Pelt from the US in 2012.
The Perth International will be the last event in the European Tour calendar before the Final Series meaning it will be the only chance left in the season for players to earn vital points.
The event is owned and promoted by IMG and is the collective vision of Eventscorp, a division of Tourism Western Australia, and IMG to see a major international golf event played annually in Perth.
The Perth International is also partnered with premium brands including, Crown Perth, The West Australian, Emirates and the Seven Network.
Marquee players will be announced in coming months.