He will be replacing incumbent Justice J S Khehar, who is set to retire on August 27. It was Khehar who had recommended Misra's name to succeed him as the next Chief Justice of India.
Justice Misra will be sworn in as the 45th Chief Justice of India by President Ram Nath Kovind on August 27.
The 63-year-old CJI-designate is the senior-most judge of the Supreme Court after Justice Khehar. He will be the third person from Odisha to be appointed the Chief Justice of India, after Justices Ranganath Misra and G B Pattanaik.
Justice Misra will retire on 2 October, 2018.