Cardinal Jorge Bergoglio, Argentine cardinal has been named as 266th pope.
He becomes first Jesuit pope or non-European pope of all time
Thousands of people in Italy around St. Peters Square and Catholics around the world, cheered as the name was announced.
The decision of the pope follows two inconclusive rounds of voting on Wednesday morning.
The Cardinals have been meeting for two days to choose a successor to Pope Benedict, who resigned last month.
Cardinal Bergoglio has taken the name: Pope Francis I.
Speaking to the thousands of Catholics gathered in the square and watching from all over the world, Pope Francis I said "this sis a path of brotherhood, of love of trust. Let's pray always for us. Let's pray for the entire world because there is a great brotherhood in the world."
He led the crowds to pray for him before blessing the them.