The decision means that Wembley will stage seven games in total - the final, both semi-finals, a last-16 match and three group games - resulting in the biggest festival of global football in the country since Euro 96.
England's national stadium is one of 12 venues across Europe hosting Euro 2020 games.
The 2020 tournament, which runs from 12 June until 12 July that year, is the first European Championship to be played under a new format with group games spread across several countries. "Today we don't know if they can build a stadium or not", he told reporters at UEFA headquarters in Nyon. This is in addition to the semifinals and final, which were already set for Wembley. They didn't expect a decision until January and they did not know whether that would be a yes or a no. Experts from [our] administration felt it was a high risk for UEFA to wait.
The company contracted to build the stadium in the northern suburb of Grimbergen, BTP Ghelamco, said they were able to build the 60,000-capacity Eurostadium in 18 months, but the Flanders region in which it will be situated has yet to issue a building permit.
After been selected as one of the host cities in September 2014, it was confirmed that the Aviva Stadium would host two Republic of Ireland games, if qualification was achieved.
"Missing out on Euro 2020 does not necessarily mean a death blow for our stadium plans", he said.
The other host cities that will hold three group games and a last 16 game are Copenhagen (Denmark), Bucharest (Romania), Amsterdam (Netherlands), Bilbao (Spain), Budapest (Hungary) and now London.
Glasgow's Hampden Park had been hoping to stage the tournament's opening game but that honour has gone to Rome's Stadio Olimpico.
With a lot of football to be played before UEFA can possibly determine more details, each of the 12 host cities have been paired together in six groups of two.