Current Bank of England governor Sir Mervyn King has welcomed the appointment of Mark Carney as his successor.
Mr Carney, governor of the Bank of Canada, will replace Sir Mervyn King in July 2013 and serve for five years.
Sir Mervyn said: "I am delighted to welcome Mark Carney as my successor. He represents a new generation of leadership for the Bank of England and is an outstanding choice to succeed me.
"Since Mark became governor of the Bank of Canada, I have worked closely with him and admired his contributions to the world of central banking, in which he is widely respected."
Mr Carney was a shock announcement by Chancellor George Osborne yesterday as it had been widely expected that the position would be given to Paul Tucker, current deputy governor of the Bank of England.
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The Treasury Select Committee has also announced its intention to hold a pre-appointment hearing with Mr Carney.
Chairman of the Treasury Select Committee Andrew Tyrie MP said: "I'm grateful that the Chancellor has offered his support for the Treasury Committee's long-standing view that we should hold what amounts to a pre-appointment hearing and should report our conclusions to the whole House. This is an important step forward.
"The hearing will cover not only his professional competence and personal independence but also his experience, leadership qualities and views on the need to strengthen the internal governance and accountability of the Bank to Parliament and to the public.
"But the benefits will flow both ways. Approval from the Treasury Committee would also provide the new Governor with greater authority and independence from the day to day pressures of politics and politicians which will come with his enhanced role."
Mr Tyrie invited people to send in information they believed would assist the committee with the hearing.

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