Annastacia Palaszczuk says 2032 Olympic Games will 'transform' Brisbane

Queensland Queensland has described Brisbane's successful pitch to host the 2032 Olympic Games as "incredible" and said the win will "transform" the city and state.

"I'm just so proud of my state. It's going to transform city," she told Today.

"It's going to transform Queensland into this brand-new golden age. It is our time to shine. It's incredible.

"It was a joint team effort. This is council, state and federal (governments) working for the people. So when you work together in the best interests of people ... anything can happen.

"It's real and it's coming home. So, yes, it's awesome."

LIVE UPDATES: Brisbane named as 2032 hosts

Brisbane was announced as the host of the 2032 Olympic Games at a ceremony in Tokyo last night.

The International Olympic Committee confirmed the widely expected news during a meeting of the 138th IOC Session, beating out bids from countries including Spain and Germany.

Palaszczuk and Brisbane Lord Mayor Adrian Schrinner made a successful pitch for the Games yesterday, assisting with the final push.

Following the win Mr Schrinner paid tribute to Brisbane's tumultuous history but said tonight marked a "new era" for the city.

"Brisbane is a place that has been through a lot, it's been through natural disasters and floods but it's always had that determined spirit and ambition," Mr Schrinner said.

"Today is Brisbane's time to shine – it's a new era for Brisbane, but also a new era for the Olympic movement as well.

"We are so excited … it's going to be so great for our city and our region and our state."

President of the Tokyo Organising Committee of the Olympic Games Hashimoto Seiko was among one of the first to congratulate both Australia and Brisbane for the achievement.

"My heartfelt congratulations go to the people of Brisbane and Australia, he said.

"Over the past year, the world's sporting community has faced the multiple challenges of COVID-19; however, under the steadfast leadership of IOC President Thomas Bach, the Olympic movement has made steady progress, culminating in today's decision in favour of Brisbane.

"I am confident that the Olympic movement will continue to gain momentum as it moves from Tokyo to Paris, from Paris to Los Angeles, and finally on to Brisbane."

Prime Minister Scott Morrison visibly jumped out of his chair in Canberra following the announcement.

He said securing the Games was a coup for the nation.

"It's a historic day not just for Brisbane and Queensland, but for the entire country," Mr Morrison said.

"Only global cities can secure the Olympic Games – so this is fitting recognition for Brisbane's standing across our region and the world.

"It's a proud day for Queenslanders and Australians everywhere."

Queenslanders at several locations along the state's south-east region rejoiced with thunderous applause and cheers following the announcement, with confirmed venues in Brisbane, Gold Coast and the Sunshine Coast lighting up in celebration.

AOC President John Coates promised Brisbane, Queensland and all Australians stood ready to deliver an Olympic and Paralympic Games to the highest standard.

"I thank the IOC Members for their confidence. Brisbane 2032 is genuinely committed to serving the ideals of the Olympic movement," Mr Coates said.

"The Olympic Games in Brisbane will be in the most diligent, grateful and enthusiastic hands. And I make this commitment to the athletes of the world – we will provide you with an unforgettable experience."

It's expected that the 2032 Olympics will flush more than $4 billion into the Queensland economy through jobs, tourism and infrastructure.