Prime Minister Boris Johnson announced the new group, which will ensure the UK's innovations are used for the benefit of the nation, will be headed by the chief scientific adviser and chaired by himself.
Sir Patrick will be asked to review which technologies the nation should focus on.
He will take on this new role alongside his current role to lead the pandemic response.
Sir Patrick will also run a new Office for Science and Technology Strategy to drive Whitehall’s science strategy.
These will include developing technology to combat the climate crisis by reaching net zero and to cure cancer, Downing Street said.
Johnson said: “From discovery to delivery, our vaccination programme has proven what the UK can achieve at scale and at speed.
“With the right direction, pace and backing, we can breathe life into many more scientific and technological breakthroughs that transform the lives of people across the UK and the world.
“That’s why I’m establishing a new ministerial council and office at the centre of government, so we can realise the limitless possibilities that research and technology has to offer and cement the UK’s place as a global science superpower.”
Sir Patrick said: “The new Office for Science and Technology Strategy will put science and technology right at the heart of policy-making and strengthen the way we work across government to reinforce the position of the UK as a science superpower.
“I look forward to working with the National Science and Technology Council to help identify cutting-edge research and technologies that will deliver strategic advantage for the UK.”