Cairo: Egypt's prominent opposition leader and Nobel Laureate Mohammad Al Baradei has been officially named Egypt's new prime minister, reported the official Middle East News Agency.

Interim President Adly Mansur on Saturday night issued a republican decree appointing Al Baradei, the former head of the UN nuclear watchdog, as the head of the new government that will also prepare for early presidential polls.

Mansour met Al Baradei twice on Saturday and asked him to start his efforts to set up a government of technocrats.

Al Baradei, who won the Nobel Peace Prize in 2005, have catalyzed massive street protests that toppled Hosni Mubarak in 2011 and his Islamist predecessor Mohammad Mursi earlier this week.

Following his designation as prime minister, Al Baradei quit the chairmanship of Al Desour, a political party he founded last year to serve as an umbrella grouping of liberals against Mursi's controversial policies, sources inside the party.

Months after Mubarak's ouster, Al Baradei opted not to run for president in protest against the military who temporarily took over.

Al Baradei, 71, was among the political and religious leaders, who discussed with the army earlier this week a post-Mursi roadmap, which includes suspending the divisive constitution drafted by an Islamist-dominated assembly.

The former diplomat as said he does not plan to run in the next presidential election.