Argentina's Jorge Bergoglio elected as Pope Francis I.
Cardinal Jorge Mario Bergoglio, 76, of Argentina, has been named as the new pope.
Cardinal Bergoglio, who is regarded as a surprise choice, will be known as Pope Francis.
His dramatic election was signalled when white smoke billowed from the conclave of cardinals meeting in the Sistine Chapel.
Cardinal Bergoglio came second in the conclave which chose Pope Benedict, who retired last month.
He is the first pope to be chosen from outside Europe for more than a millennium.
Pope Francis I, who is the first pope from Latin America, addressed the waiting crowd just over an hour after white smoke signalled his election.
Addressing the masses gathered in St Peter's Square, he said "the world should set off on a path of love and fraternity".
He added: "I would like to thank you for your welcome, the community of Rome, its brotherhood, I thank you.
"Above all, I would like to pray for Pope Benedict XVI."
Minutes later, a message was sent from the official papal Twitter account, which had been re-activated, which read: "HABEMUS PAPAM FRANCISCUM" - which roughly translates as "We have Pope Francis."
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