The powerful 69-year-old industrialist was elected despite being suspended by India's Supreme Court as the country's cricket chief after being named in a damning report into corruption allegations in the Indian Premier League.
Srinivasan was nominated by the Board of Control for Cricket in India (BCCI) for global cricket's top position and will take charge following the ICC Annual Conference in Melbourne this weekend.
"It is an honour to be confirmed as the chairman of the International Cricket Council," Srinivasan said.
"I will leave no stone unturned in trying to strengthen the pillars and foundations of our sport, both on and off the field.
"I want to ensure that cricket retains and grows its popularity, and that the ICC plays a leading role in this global growth."
He added: "I want to see more strong teams in international cricket. For this to be achieved, we all need to work hard to develop local talent in our countries."
Srinivasan was among 13 people named in a report into corruption claims in the Indian Premier League Twenty20 competition, which has been embroiled in allegations of illegal betting and spot-fixing, including against his son-in-law.
Srinivasan said that rather than being suspended, he had voluntarily stepped aside as BCCI chairman.
"I've done nothing wrong, my conscience is very clear and there is no taint on me," Srinivasan told a media conference as his appointment was announced.
Srinivasan's ascension to the head of the ICC follows controversial changes last February to the governance of the global body, which handed the majority of the powers and revenue to the sport's "big three" nations -- India, Australia and England.
Srinivasan becomes the first ICC chairman, replacing outgoing Australian Alan Isaac, who served a two-year term as ICC president.
Mustafa Kamal will now become the 11th president of the ICC.
http://timesofindia.indiatimes.com/followceleb.cms?alias=Srinivasan,International cricket council,Indian Premier League,Board of Control for Cricket in India,BCCI
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