Hyundai's TCR challenger, which is to be built at its WRC base in Alzenau, Germany, will be based on its new-generation i30 road car and will complete a testing programme in 2017.
The manufacturer expects to start deliveries of the car to customer teams in December.
"The beginning of our first project specifically for circuit racing is a very important step for Hyundai Motorsport," said Hyundai motorsport boss Michel Nandan.
"The TCR regulations have proven incredibly successful, and are being embraced by a growing number of series around the world. By representing Hyundai in these championships, our TCR car will promote the manufacturer in motorsport, together with our WRC and R5 projects.
"The coming months will be very busy for the Customer Racing department, with the TCR development running alongside the continuing support of our existing customers. I know, though, that we will create a strong car for an increasingly competitive category. Let’s look forward to seeing it on TCR starting grids."
Launched in 2015, TCR - a project of former WTCC boss Marcello Lotti - has been setting up local championships in various markets over the past two years.
Due to its customer car status, it is not yet known which series Hyundai's challenger will compete in, although the International Series - the flagship championship of the TCR system - appears a likely destination.
"We are delighted to welcome Hyundai into the ever-growing TCR family," Lotti said.
"The arrival of the Korean manufacturer adds even more prestige to a long list of famous brands that have decided to embrace the TCR concept and compete with their production models in an expanding number of racing series worldwide.
"We can’t wait to see them join the International Series where we believe that they will be competitive straight away."