Bennett, who has won a record seven NRL Grand Finals as a coach, will replace outgoing Steve McNamara.
The Rugby Football League announced this morning that it would not be offering a new contract to the 44-year-old Yorkshireman.
Bennett, who is currently the head coach of the Brisbane Broncos, has signed a two-year deal and will lead England in the 2016 Four Nations and the World Cup one year later.
"I am very excited by the challenge of taking England on to the next level," said Bennett. "From what I have seen I have been impressed by the ambition and energy demonstrated by the team and I look forward to working with a group of players that I believe have what it takes to succeed on the international stage."
RFL chief executive Nigel Wood added: "Wayne is quite rightly regarded as the outstanding coach of this generation and I am delighted that we have been able to secure his services.
"This England team has made considerable progress over the last few years and we now possess truly world class players across all positions. These players deserve the very best support and coaching as we attempt to move from contenders into potential winners of international tournaments.
"I believe that Wayne Bennett is undoubtedly the right man to lead this group forward and enable them to do this. We will be discussing with Wayne in due course the coaching support he will need which we expect will be UK based."
McNamara spent more than five years in charge of England, winning 16 out of 27 matches.