The arena, which seats about 18,500, is the home floor of the NBA's Phoenix Suns and the WNBA's Phoenix Mercury.
The 58th All-Star Game, scheduled for Feb. 15, 2009, would be the third time Phoenix has hosted the NBA All-Star festivities. The 1975 and 1995 events also were in Arizona.
"Phoenix is one of the great sports and entertainment destinations, so it is only natural that it will once again become the basketball capital of the world," said NBA Commissioner David Stern. "We appreciate the leadership of Jerry Colangelo, Robert Sarver and the Suns organization for inviting us to make their arena our home for what promises to be an exciting and entertaining All-Star."
This season's All-Star Game is set for Feb. 17, 2008 in New Orleans.