Victorian MP Adam Bandt has replaced Richard Di Natale as the new leader of the federal Greens.

Key points: The Greens will elect a new leader to replace Richard Di Natale this morning

The Greens will elect a new leader to replace Richard Di Natale this morning Adam Bandt is the likely leader with Larissa Waters vying to remain deputy

Adam Bandt is the likely leader with Larissa Waters vying to remain deputy If successful, Mr Bandt will be the first Lower House MP to lead the federal Greens

The 47-year-old Melbourne-based politician was elected unopposed during a meeting of the 10-member party room this morning.

That vote came after Senator Di Natale tendered his resignation yesterday morning.

Queensland senator Larissa Waters will remain a co-deputy leader, serving alongside Tasmanian senator Nick McKim.

Mr Bandt, who was one of the party's co-deputy leaders under Senator Di Natale, is the party's sole Lower House MP and now first federal leader to sit in the House of Representatives.

The three previous leaders — Bob Brown, Christine Milne and Senator Di Natale — have all been senators.

Senator Waters will lead the party in the Senate, elected unopposed.

The party had a contested vote for the other co-deputy position, which featured senators Nick McKim, Sarah Hanson-Young and Mehreen Faruqi.

Adam Bandt, 47, was elected as a Victorian federal MP in 2010. ( ABC News: Luke Stephenson )

Who is Adam Bandt?

Mr Bandt has been in the headlines since the start of his decade-long federal political career.

The former industrial lawyer was previously a branch member of the Labor Party. He later changed parties and contested the seat of Melbourne for the Greens in 2007, before winning it in 2010, becoming the party's first member of the House of Representatives elected at a general election.

That election produced the first hung parliament in 70 years, with Mr Bandt — alongside three independents — among the kingmakers needed to break the deadlock in Parliament.

Mr Bandt, Tony Windsor and Rob Oakeshott ultimately decided to back prime minister Julia Gillard, delivering her a second term.

Mr Bandt was deputy leader for three years under Ms Milne, but ultimately lost the leadership race to Senator Di Natale in 2015.

He has been the co-deputy leader since mid-last year and is currently the party's climate change spokesman.

Richard Di Natale and his co-deputies Adam Bandt and Larissa Waters at his resignation press conference. ( ABC News: Sean Davey )

Process draws criticism from within party

Shortly after Senator Di Natale's resignation, Senator Faruqi expressed her disappointment at how the next leader would be elected.

She wanted party members to vote on a replacement.

"Selecting our new leader is a great opportunity to democratically involve members in the process. The party should be doing just that for this ballot," she said.

Senator Di Natale had previously flagged a new process for the selection of the Greens' party leader, involving a split vote between the federal party room and grassroots party members — like the system Labor has federally.

But some in the party think the current model, where MPs and senators alone elect the leader, is working.

Activist group Greens for Democratic Leadership called the decision to stick with the current model "a disappointment and a disgrace".