The Royal New Zealand Yacht Squadron made the announcement as the team look for a response following last year's debacle.
Team NZ led Oracle Team USA 8-1 before losing eight straight races and the America's Cup.
Steve Burrett, the outgoing commodore, was excited by the challenge.
"New Zealand has a distinguished history in the America"s Cup and we expect Emirates Team New Zealand will once again make New Zealand proud, just as it has done many times in the past," he said in a statement.
"We wish the team well and we look forward to contributing to the success of the 35th America's Cup."
Team New Zealand chief Grant Dalton said: "This is the official start of a long, hard journey. We do not underestimate the challenges ahead.
"We look forward to working with the other teams to create a great event."
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