Takaichi avoided a second round of voting with a landslide victory in the first round of voting in the House of Representatives, receiving 237 votes compared to 149 votes from the leader of the Japan Democratic Party Yoshihiko Noda.
Lawmakers applauded Ms. Takaichi when she voted and welcomed her with a resounding round of applause after the results were announced.
The victory of Ms. Sanae Takaichi was a historic moment, marking the first time Japan has put a woman in the position of prime minister.
The October 20 alliance agreement between the LDP and the New Japan Party (JIP) almost certainly brought victory to Ms. Takaichi when it gave her the necessary support to counter any challenge from the opposition.
On the morning of October 21, Ms. Takaichi promoted the establishment of a cabinet before a vote in the House of Representatives. According to this result, no lawmakers from JIP are expected to join the cabinet.
Initial information from the media shows that some of her competitors in the race for the LDP leadership, including Yoshimasa Hayashi, Shinjiro Koizumi and former Foreign Minister Toshimitsu Motegi, could secure key cabinet positions in the new administration. Mr. Hayashi and Mr. Koizumi, respectively, are government spokesmen and the agriculture minister, who simultaneously resigned from Mr. Shigeru Ishiba's cabinet on the morning of October 21.
During her LDP presidential campaign, Ms. Takaichi also signaled that she would appoint a large number of female lawmakers if she took office.
JIP's head of parliamentary affairs Takashi Endo - one of the alliance's key architects - is expected to be appointed as a consultant to the prime minister.
As former Secretary of Economic Security and Home Affairs, Ms. Takaichi served in the House of Representatives for about 30 years. She won the leadership of the LDP earlier this month in her third term.