The decision was announced in Peru's official gazette Sunday. Van der Sloot is the main suspect in Holloway's disappearance. According to prosecutors, Van der Sloot accepted $25,000 in cash from Holloway's family in a deal to lead a lawyer to the teen's body in early 2010, just before he went to Peru.
He will be extradited under an indictment in U.S. District Court in the state of Alabama.
Van der Sloot is currently serving 28 years in prison for the murder of Stephany Flores, a 21-year-old Peruvian student he met in a casino. Flores' death came five years to the day Holloway went missing.
Holloway disappeared while on a high school graduation trip in Aruba, where Van der Sloot lived at the time. Holloway was last seen leaving a bar with him.
Holloway's body was never found, and a judge later declared her dead. Van der Sloot was never charged in the teen's disappearance.
The Associated Press contributed to this report.