Mr Morrison, the treasurer, won an internal ballot 45-40 over former Home Affairs Minister Peter Dutton – who had been Mr Turnbull’s most vocal threat.
Mr Turnbull is the fourth Australian PM in a decade to be ousted internally.
“It has been such a privilege to be the leader of this great nation. I love Australia. I love Australians,” he said on Friday.
Why was Turnbull forced out?
With an election looming, MPs were nervous about the government’s poor opinion polling and recent by-election defeats.
Who is Morrison?
Mr Morrison, a former Tourism Australia official, entered parliament in 2007 and has since held three key ministerial portfolios.
A social conservative who appeals to the moderate elements of the Liberal party
Rose to national prominence as immigration minister in Tony Abbott’s government
Built a reputation as a tough operator in enforcing Australia’s hardline “stop the boats” policy
Drew criticism over the controversial asylum seeker policies and offshore detention centres
Seen as a pragmatic, ambitious politician who has long eyed the top job
The 50-year old father-of-two is a leading religious conservatives and opposed last year’s same-sex marriage bill.