In a statement announcing the new facility, Disney said the UAE was located within a four-hour flight of one-third of the world's population, making it a "significant gateway for tourism".
It added that 120 million passengers travel through Abu Dhabi and Dubai every year, making the Emirates the biggest global airline hub in the world.
Disney chief executive Robert Iger described the plans for the new park as a "thrilling" moment for the company and said Disneyland Abu Dhabi would be "authentically Disney and distinctly Emirati".
The 25 sq km Yas Island is 20 minutes from downtown Abu Dhabi and 50 minutes from Dubai.
Miral's boss Mohamed Abdalla Al Zaabi said bringing a Disney theme park resort to the area marked a "milestone in our journey to further advance the island's position as a global destination for exceptional entertainment and leisure".
He said the development would "support sustained economic growth in Abu Dhabi and beyond".
The company's first theme park, Disneyland, opened in Anaheim, California in 1955. It was followed in 1971 by Walt Disney World in Orlando, Florida.
International expansion began in 1983 with a park in Tokyo; Disneyland Paris opened in 1992 , then came Hong Kong in 2005 and, most recently, Shanghai in 2016.