Winning a 54 to 44 Liberal party-room vote in Canberra yesterday, Turnbull promised to unite the party and the nation with a new style of leadership that “respects the people's intelligence”.
The former Rhodes Scholar and investment banker holds more progressive political views than Mr Abbott, an ardent conservative and monarchist, but immediately signalled he will restrain his own personal support for same sex-marriage and strong action on climate change.
“This will be a thoroughly Liberal government committed to freedom, the individual and the market,” he said.
Praising Mr Abbott's tough migrant policies and free trade deals with China, Korea and Japan, he promised a “thoroughly consultative, a thoroughly traditional cabinet government”.
The successful coup resulted in Australia's fourth leader since 2013 and followed an 18-month run of dismal polls for Mr Abbott.
