The ancient sport has been contested at all but one Olympics since 1896.
It was a surprise decision NBC says, considering many believed the Modern Pentathlon would instead be dropped to make way for a new sport.
"This is a process of renewing and renovating the program for the Olympics," IOC spokesman Mark Adams said. "In the view of the executive board, this was the best program for the Olympic Games in 2020. It's not a case of what's wrong with wrestling, it is what's right with the 25 core sports."
To read more about why wrestling was chosen as the sport to replace, CLICK HERE to read the complete article from NBC Sports.