Economist Mario Draghi on Friday formally accepted the role position of Italy's next prime minister after meeting with the Italian President and will be sworn in on Saturday.
Mr Draghi, the ex-head of the European Central Bank, also named his cabinet after meeting the Italian president which the latter accepted, the BBC reported.
Mr Draghi's elevation became possible after he managed to secure the support of almost all the main political parties, after initially managing to get the support of the largest group in parliament, the Five Star Movement.
The government faces a confidence vote next week - a formality given its cross-party backing.
It also means he will have a large enough majority to push through his agenda.
Since Italy is still grappling with the pandemic and is also facing its worst economic crisis in decades, the fall of the previous government put the country in chaos amid a row over how to spend EU coronavirus recovery funds.
The country has recorded more than 93,000 COVID related deaths, which is the sixth-highest death toll in the world.
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