The UK Prime Minister described the east African nation as a "failed state that directly threatens British interests," citing attacks on tourists and aid workers, and radicalisation of young Britons by militant Islamist groups with roots in the region.
Cameron announced last month that British merchant ships sailing off the coast of Somalia would be able to carry armed guards to ward off pirate attacks, bringing it into line with many other countries.
"Somali pirates aren’t invincible: they are violent and lawless men in small boats and it is time we properly stood up to them," Cameron said in a speech at a banquet to honour the new Mayor of the City of London.
"But there is a real and pressing need to pull together the international effort," Cameron said in the speech, traditionally a forum for setting out foreign policy priorities. "That is why Britain will host a major conference in London next year."
The date of the conference was not announced although it is believed it will take place in 2012.
Giles Heimann, Chair of the international anti-piracy campaign SOS SaveOurSeafarers said:
"We are delighted about David Cameron’s announcement putting Somali piracy high up on his political agenda. It is high time that such a national leader admitted publicly that vital trade routes are being disrupted by Somali pirates, and that it is time that we properly stood up to them. Our nine month global campaign has worked hard to highlight the human and economic cost of piracy in the Gulf of Aden.
"The cost to the world’s seafarers is huge, with hundreds held hostage on hijacked ships for months on end, hungry and dispirited, and moreover physically and mentally tortured by their captors.
“We are glad to see the UK take the lead to pull together the international effort and organise a major forum to discuss the ongoing threat to shipping from Somali piracy, and effective solutions to tackle piracy. We will support the upcoming event in any way possible."