The Chancellor told MPs that Mark Carney was "the outstanding central banker of his generation with unparalleled expertise in financial regulation".
"He will bring a fresh perspective," Mr Osborne told MPs. "He has got what it takes to help bring families and businesses through these incredibly challenging economic times.
"My responsibility was to get the best for Britain, and with Mark Carney we've got that."
Mark Carney, the next Governor of the Bank of England has revealed some clues to his approach to the job during a speech in Canada.
Despite boasting the role was advertised externally for the first time, the Chancellor worked hard to lure Canadian banker Mark Carney.
The Bank of Canada Governor will bring a lot of experience and a tough reputation to his new role as Governor of the Bank of England.