Srinivasan, who has been suspended by the Supreme Court from functioning as BCCI chief due to investigation into IPL spot-fixing scandal, was confirmed on Thursday to take charge as the global governing body's first Chairman following the revamp of ICC.
"Narayanaswami Srinivasan was confirmed as the Chairman of the International Cricket Council (ICC) after the 52-member Full Council approved amendments to the ICC's Memorandum and Articles of Association at the Annual Conference in Melbourne on Thursday," ICC said in a media statement.
Srinivasan has been nominated by the Board of Control for Cricket in India (BCCI) for the top position and will assume charge following the conclusion of the ICC Annual Conference week.
The approval of the constitutional changes, which flowed from an ICC Board resolution taken in Singapore on 8 February and finalised on 10 April, also means that a new Executive Committee was formed, which will report to the ICC Board.
The initial Chair of the Executive Committee will be Cricket Australia's Chairman, Wally Edwards, while the Chair of the ICC's Finance and Commercial Affairs Committee (F&CA) will continue to be England and Wales Cricket Board's Chairman, Giles Clarke.
Srinivasan said it was an honour to become ICC Chairman and promised that the ICC will continue to play a leading role in the promotion and development of the global game.
"It is an honour to be confirmed as the Chairman of the International Cricket Council," said Mr Srinivasan, adding: "I will leave no stone unturned in trying to strengthen the pillars and foundations of our sport, both on and off the field. I want to ensure that cricket retains and grows its popularity, and that the ICC plays a leading role in this global growth.
"I want to see more strong teams in international cricket. For this to be achieved, we all need to work hard to develop local talent in our countries. Naturally, there will be more support to those who first show they can help themselves.
"The ICC is a Members' organisation and the pathway is now there for any Member to play Test cricket or in the major ICC events if it performs well enough over a sustained period of time."
In February, ICC had announced that Srinivasan would take over as its Chairman. It was just a formality today and the Tamil Nadu strongman was anointed to chair the ICC Board.
Following the revamp of ICC, BCCI, Cricket Australia (CA) and England and Wales Cricket Board (ECB) have been given more powers. It is the taking over of ICC from the "Big Three".
"The ICC Board will continue to be the primary decision-making body. From the start of July this year, the ICC Chairman will be N Srinivasan from the BCCI," ICC had said in February.
"A new Executive Committee will be formed to report into the Board. The initial Chair of this Executive Committee (ExCo) will be Wally Edwards from Cricket Australia while the Chair of the Finance and Commercial Affairs Committee (F&CA) will continue to be Giles Clarke from the ECB. These roles will be for an initial two year transitional period to 2016 only," it added.