Peter Dutton is the new leader of the Liberal Party after a partyroom vote, with former environment minister Sussan Ley elected as deputy.
Mr Dutton had been all but confirmed as the next opposition leader as he was the only person to put his hand up for the job.
He replaces Scott Morrison who resigned from the position after the Coalition's election defeat.
Both Mr Dutton and Ms Ley were elected unopposed for their positions.
Mr Dutton reiterated the Liberal Party under his leadership would not be "Labor lite" and would be true to its values.
"Our policies will be squarely aimed at the forgotten Australians in the suburbs across Australia," he said.
"I want our country to support aspiration and reward hard work, take proper care of those Australians who, short-term or long-term, can't take care of themselves."
He said his shadow front bench would be unveiled later this week.
Mr Dutton was asked whether he would work with the Labor government on establishing an Indigenous Voice to Parliament, given he walked out on Kevin Rudd's apology to the Stolen Generations in 2008.
Mr Dutton said he made a mistake when he boycotted the apology.
"Largely that was because of my own background and experience… I worked in Townsville, I remember going to many domestic violence instances particularly in Indigenous communities," he said.
"At the time I believed the apology should be given when the problems were resolved and the problems weren't resolved."
Ms Ley said it was a great honour to serve as deputy, and that she believed Mr Dutton was "absolutely" the best person to lead the party.
She said as well as being a strong advocate for regional and rural Australia, she would continue to be a strong voice for women.
"We know that we didn't receive the support of all women at the last election and my message to the women of Australia is we hear you," she said.
"We're listening, we're talking and we are determined to earn back your trust and your faith."
She was asked, if the Liberal Party was listening to the feedback from the election, why both conservative parties had again elected men as leaders.
The Nationals on Monday dumped Barnaby Joyce as leader in favour of Queensland MP David Littleproud. Senator Perin Davey is the party's new deputy leader.
Ms Ley said there were many women in leadership positions across the parliament.
"I'm very comfortable with the leadership of our party and very comfortable with Peter Dutton in the role and his understanding, as is outlined today," she said.
'I want people to see the entire person'
Mr Dutton, a hardline conservative within the Liberal Party, has sought to recast his image in the past week ahead of becoming Opposition Leader.
He said he wanted people to see his "the entire person" he is, arguing his image up to now was partly shaped by the portfolios he had held, such as Home Affairs and Defence.
The Opposition Leader said as home affairs minister he cancelled visas of "just over 6,000 criminals" including people found guilty of sexual offences against women and children.
"It's pretty hard to break into a smile when you are making that announcement … to show a softer side or a different side to your character," he said.
"All I would say is I'm not going to change, but I want people to see the entire person I am and reserve and make their own judgements when they meet me."
The 51-year-old hardhead has been at the centre of his fair share of controversies during his more than 20 years in parliament.
In 2015, he was caught on a "hot mic" making a joke about "water lapping at the door" of Pacific Island nations because of climate change.
The next year he made inflammatory remarks about refugees' literacy levels.
He was also the only opposition frontbencher in 2008 to boycott then-prime minister Kevin Rudd's apology to the Stolen Generations, and he personally voted no "and encouraged people to do the same" to same-sex marriage in the 2017 postal vote.
Ultimately, Mr Dutton voted in favour of same-sex marriage in parliament after majority support for it was made clear by the postal vote.
Morrison thanks Liberal colleagues
Speaking after the vote, Mr Morrison expressed his congratulations to both Mr Dutton and Ms Ley.
"They're incredibly experienced, well-versed, deeply committed Australians to both the Liberal cause and, of course, the cause of the nation," he said.
"I think they'll do an outstanding job and I look forward to giving them all of my full support."
The former prime minister said he used the partyroom meeting to thank his Liberal Party colleagues "for their great loyalty and support"
"And to do that both on my behalf and on behalf of my dear friend Josh Frydenberg," he said.
"We are all very sad he couldn't be with us today and there was a rousing cheer for Josh, as there should be.
"So to him and all the Liberal Party supporters and those out there, thank you very much.
"It's been a great privilege to lead the federal parliamentary Liberal Party and I hand over to Peter and Susan and wish them all the best."
Mr Frydenberg, who lost his blue-ribbon Victorian seat of Kooyong at the election, was also a favourite to lead the party in the event of Mr Morrison's resignation.
