Trump revealed the summit will occur June 12 in Singapore.
"We will both try to make it a very special moment for World Peace!" he tweeted Thursday.
The meeting has been in the works for weeks, and the leaders initially hoped it would happen by the end of May.
The summit will be the first-ever between a sitting U.S. president and a North Korean leader.
Although U.S. officials considered meeting in the Korean demilitarized zone or Mongolia, Singapore ultimately won out because of its neutrality and infrastructure.
"Singapore wasn't my first choice for the North Korea summit location. But Singapore is a very valued U.S. partner and a remarkable city-state that punches many times above its weight. This is a good choice," Mintaro Oba, a former state department official who worked in the negotiations, said.
A face-to-face meeting with Kim would help fulfill a campaign promise from Trump to persuade Pyongyang to abandon its nuclear weapons program.
For North Korea, key issues may be the lifting of economic sanctions and the presence of 30,000 U.S. military personnel in South Korea.
"We will see if we can do something," Trump told reporters Thursday. "I think we'll have a very big success."
Trump's announcement came just hours after three Americans who'd been held in North Korea returned to the United States, arriving at Andrews Air Force Base in Maryland early Thursday. They were greeted by the president and first lady Melania Trump.