Nobel Prize winner Brian Schmidt has been announced as the next vice-chancellor of The Australian National University (ANU) in Canberra.

Professor Schmidt will replace outgoing vice-chancellor Professor Ian Young from January 1, 2016.

The renowned astrophysicist and winner of the 2011 Nobel Prize for Physics will become the University's 12th vice-chancellor.

ANU Chancellor Gareth Evans said the university council was delighted by the selection.

"Brian Schmidt is superbly placed to deliver on the ambition of ANU founders - to permanently secure our position among the great universities of the world, and as a crucial contributor to the nation," Professor Evans said.

"We had a stellar field of international and Australian candidates, and have chosen an inspirational leader.

"Brian's vision, vitality, global stature and communication skills are going to take our national university to places it has never been before."

Professor Schmidt said his appointment as vice-chancellor was a great honour.

"Our program here is world class, and we are going to make it even better," he said.

"So that people do not feel that they are gaining anything by going overseas to great universities of the world such as Oxford or Harvard, where I came from.

"Because they can stay here and get the same quality of education.

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"We are almost there right now, but in the next couple of years we are going to be all of the way there."

Professor Schmidt has worked at the ANU for 20 years and said he would bring his research background to the new role.

The news has been welcomed in education and research circles.

Federal Education Minister Christopher Pyne tweeted his approval of Professor Schmidt's appointment.

Mr Pyne also wished him all the best in what would be an exciting and challenging role.

Professor Young congratulated the incoming vice-chancellor and said he expected a seamless handover in the next six months.

"I was delighted to hear that my successor will be Brian, as he is a truly outstanding scholar," he said.

"And possibly more importantly than that, someone with an absolute passion for the role of this great university.

"He has been a great colleague of mine of the past five years and somebody that I have enjoyed working with enormously.

"I'm very confident the university will be in very safe hands."