Football Federation Australia confirmed the news on Saturday afternoon ahead of the friendly against Korea Republic where Milligan will lead the side.

The 34-year-old skippered the side on an interim basis for last month's 4-0 friendly win over Kuwait, following Mile Jedinak's retirement.

Milligan was the standout choice for the gig, although Trent Sainsbury was rated as a good candidate.

Socceroos coach Graham Arnold said the Sydney-born defender was a natural choice as one of the senior leaders in the squad.

“As we embark on a new era we look to leaders like Mark,” Arnold said.

“Mark has been a part of the national team for 12 years now. The experience gained over that period is invaluable to our squad and his leadership on and off the park shines through every day.

“I have known Mark for a long time. I worked with him when he was the youngest member of our 2006 FIFA World Cup squad, and he has grown as a player and person over the years."

Milligan said it will be an honour to lead his country as they prepared to defend the AFC Asian Cup in the United Arab Emirates early next year.

“I am extremely humbled by the opportunity,” Milligan said.

“I acknowledge it is a significant responsibility and it is one which I look forward to.

“We have had many great leaders over the years, who I both played alongside and admired as I grew up watching the national team.

"It is a huge honour to be joining them and I look forward to fulfilling the role with the support of our leadership group.

“We have a great culture within this squad and with the support of the leadership team we will continue to build on a new era for the Socceroos.

“We have a great challenge ahead of us at the AFC Asian Cup but we will travel to the UAE in the knowledge that we are well prepared.

"We have some exciting new players in the squad as well as some players who have been around the national team for a long time, which provides a good balance."