Former defence minister Peter Dutton will officially replace Scott Morrison as leader of the Liberal party.
The 51-year-old has been elected to lead the party unopposed, and will serve alongside former environment minister Sussan Ley, who will be his deputy.
"As prime minister, you need strength of character and relentless resolve to see our country through the good and the bad times. They are among the character traits that I bring to this job," Dutton told media following the announcement.
The Dickson MP also paid tribute to "Scott Morrison, his wife Jenny, and his girls for the enormous contribution they’ve made not just to our country but the Liberal Party as well".
"We wish them all the very best in the next stage of their life."
Watch: Peter Dutton addresses the media after being elected Liberal leader. Post continues below.
Dutton previously spoke about his decision to put his hand up for the top job in a Facebook post last week.
"In a prime minister you need someone who won't buckle in hard times and will stand up for our country and I have proven that in the portfolios I've had," he wrote.
"My work ethic is second to none and I have the skill and experience having served five leaders and have learnt from each."
Dutton, who is the first Queenslander to lead the party, has also pledged to return the Liberals back to their core values.
"We aren’t the Moderate Party. We aren’t the Conservative Party. We are Liberals. We are the Liberal Party. We believe in families - whatever their composition. Small and micro businesses. For aspirational hard working ‘forgotten people’ across the cities, suburbs, regions and in the bush."
With the Liberals under a new leadership, here's everything we know about Peter Dutton.
Peter Dutton's upbringing and work in the police force.
Dutton grew up in Brisbane as the eldest of five children. His mother, Ailsa Leitch, was a childcare worker, and his father, Bruce Dutton, was a builder.