The move came after President Khalifa bin Zayed Al Nahyan passed away at the age of 73 on Friday.
The Council held a meeting in Abu Dhabi, which was chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The meeting was attended by the rulers of all the other Emirates of the UAE.
A statement issued by the Ministry of Presidential Affairs said that according to Article 51 of the Constitution, Sheikh Mohamed bin Zayed has been unanimously elected as the President of the UAE to succeed the late Sheikh Khalifa bin Zayed Al Nahyan.
The Supreme Council members and the rulers of the Emirates have reaffirmed their keenness to continue implementing the authentic values and principles laid down by the late Sheikh Khalifa, following on from the founding father, the late Sheikh Zayed bin Sultan Al Nahyan. These have consolidated the UAE's status at both regional and global levels.
Sheikh Mohamed bin Zayed expressed his appreciation for the precious trust placed in him by his brothers, the Supreme Council members and the rulers of the Emirates, praying to the Almighty to guide and help him bear the responsibility of this great trust and to fulfil its tasks of serving his country and the people.
Born on March 11, 1961, Sheikh Mohamed bin Zayed is the third President of the UAE, Ruler of Abu Dhabi and Supreme Commander of the United Arab Emirates armed forces.
The New York Times had named him as the most powerful Arab ruler. He was also named among the 100 most influential people of 2019 by the TIME magazine.
He is the third son of Zayed bin Sultan Al Nahyan, the first President of the UAE and Ruler of Abu Dhabi. He was educated at The Royal Academy in Rabat until the age of 10. His father Sheikh Zayed then sent him to Morocco intending for it to be a discipline experience.
Sheikh Mohamed bin Zayed was further educated at schools in Al Ain, Abu Dhabi and spent a summer at Gordonstoun until the age of 18.
He graduated from the Royal Military Academy Sandhurst in April 1979. Sheikh Mohamed bin Zayed then returned home to the UAE to join the Officers' Training Course in Sharjah. He has held a number of roles in the UAE military, from that of an officer in the Amiri Guard to a pilot in the UAE Air Force.
He has gifted 55 million AED to the UN global initiative to fight human trafficking, committed to raise $100 million for the Reaching the Last Mile Fund, pledged $50 million for children's vaccine efforts in Afghanistan and Pakistan, and contributed $30 million to the Roll Back Malaria partnership.
The University of Texas chair for scientific and medical knowledge in cancer research is named after Al-Nahyan as a result of a funding grant to the MD Anderson Cancer Center.
Sheikh Mohamed bin Zayed has also been involved in the setting up of art museums, such as Louvre Abu Dhabi and the Guggenheim Abu Dhabi, as well as cultural heritage sites such as Qasr Al Hosn.