Malcolm Turnbull has been elected federal Liberal leader by just four votes following Brendan Nelson's decision to call a snap spill of the position.
The opposition treasury spokesman won the leadership after the Party met at Parliament House at 9am (AEST), with Turnbull securing 45 votes against DrNelson's 41 votes.
Julie Bishop remains as deputy leader.
The vote follows Dr Nelson's shock decision last night to call a leadership spill to try to stem continuing destabilisation of his position.
It was also an attempt to wrong foot Mr Turnbull, who had only returned to Australia on Sunday after a holidaying in Italy the previous week.
Mr Turnbull lost the leadership ballot to Dr Nelson by just three votes on November 29 last year.
But Dr Nelson polled poorly against Prime Minister Kevin Rudd and speculation had been continuing that either former treasurer Peter Costello would be drafted into the leadership or Mr Turnbull would make a move.
Mr Costello, who launches his memoirs today, effectively ruled himself out of leadership contention last week.
