The makers of the classic game decided to release a version based on a town in the area earlier in the year.
After initially considering both Peterborough and Milton Keynes as favourites, Northampton was eventually chosen because of the large number of landmarks which could be included on the new-look board.
The decision has been welcomed by Northampton Borough Council's cabinet member for culture, Councillor Brendan Glynane (Lib Dem, Delapre), who said the Monopoly special edition would really put Northampton on the map.
So what will be on the Northampton Monopoly board? Click hereHe said: "Generations of people have enjoyed playing Monopoly and it's fantastic for Northampton to be recognised in this world famous game.
"We have a lot to offer, from the natural beauty of Abington Park to the historic Delapre Abbey.
"So I hope people get as much enjoyment playing the game as they do visiting our famous attractions."
The full collection of Northampton streets and landmarks which will eventually take up the places on the board has not yet been chosen.
But the Chronicle & Echo has already been selected to take up the prestigious Fleet Street spot and the town's top sports clubs, including Northampton Saints and Northampton Town FC, are both expected to take up space on the board.
It is thought, however, that there may be a behind-the-scenes battle for the coveted Mayfair spot, the most expensive square on the board.
Both Althorp House – home to Earl Spencer – and the borough council's Guildhall headquarters are expected to feature in the running.
The Northampton version of the game is due to be launched in October this year and business experts in the town have already predicted it will be one of the biggest sellers in local shops in the run-up to Christmas.
Sheridan New, who is manager of the Grosvenor Centre and also deputy chairman of the Northampton Town Centre Forum, said: "Monopoly is always an excellent seller, because it's such a great game for families to play, so I think a Northampton version is a brilliant idea."
He was also delighted the town had been chosen as the latest location for the game, above both Milton Keynes and Peterborough.
Mr New added: "It's great that we've been chosen over such tough competition and I'm delighted the makers of Monopoly have realised the importance of Northampton."
Parker, which makes Monopoly, also expects there to be a big market for the game in Northampton. More than 600 people have already joined four separate groups on the social networking site Facebook, calling for Northampton to be given its own version of the game.