The 42-year-old took charge of the 2010 World Cup final between Holland and Spain and becomes the first referee to return in the following tournament.
Mark Clattenburg also made the FIFA shortlist, but they opted for the hugely experienced Webb, who has officiated in a number of high-profile games.
Webb showed a record 15 cards, including a red for Holland's Johnny Heitinga, as Spain claimed a 1-0 extra-time win in South Africa.
The Yorkshire official's first international tournament was Euro 2008 and he was also the man in the middle for the 2010 Champions League final.
Webb has been a FIFA-listed referee since 2005 and will be assisted by Michael Mullarkey and Darren Cann, who also joined him at Euro 2012.
Webb is approaching FIFA's age-limit of 45 and this was his final chance to appear at a World Cup.