In an all-member ballot for the leadership, 56% of members voted with the result revealed this afternoon.
Tim Farron received 56.5% of the votes and in second place Norman Lamb received the backing of 43.5%.
The MP for Westmoreland and Lonsdale had been the bookies favorite to succeed former leader and deputy prime minister Nick Clegg, who quit following the party's dismal general election performance in which it was left with just eight MPs, down from 57 in 2010.
THANK YOU! This is a liberal country. Our job now is to turn millions of liberals throughout the UK into Liberal Democrats #LibDemFightback
The Lib Dem Christian Forum has also welcomed the news via social media:
Fantastic news - Christian MP and long-standing supporter of LDCF, Tim Farron, is now leader of the Liberal Democrats. Congrats @timfarron!
Outgoing leader Nick Clegg has also wished him well:
Congratulations to new @libdems leader @timfarron. It's a tough job but the best in politics. I know Tim will do us proud #libdemfightback
Who is Tim Farron:
- PERSONAL: He is 45, married to Rosemary and they have one daughter and two sons.
- CHRISTIAN: He describes himself as an active Christian. "becoming a Christian at the age of 18 was the most massive choice I have ever made". He chaired the Parliamentary Prayer Breakfast in 2013.
- POLITICIAN: He is the MP for Westmoreland and Lonsdale (since 2005) and was President of the Liberal Democrat Party (2011-14)
- ROLES: He has held a variety of front bench roles but resigned from the front bench in 2008 when he voted for the EU referendum which his party opposed. He is seen to be on the left wing of his party.
- VALUES: When he opposed an increase to £9,000 the cap on student fees, he said, "Integrity is important. You must not only keep your word but be seen to keep your word. You can say no".
Commenting on the election, Liberal Democrat Party President Sal Brinton said: "Both Tim and Norman ran distinctively liberal, strong campaigns that spoke to party members across the UK. At numerous hustings and meetings with members, they spoke of their liberal values, the direction they think we should go, and how to best rebuild the party over the coming months and years.
"Tim is a fantastic communicator and his energy, enthusiasm and passion will inspire and drive the Liberal Democrats back to winning ways."