Baird replaces O'Farrell as NSW premier

Mike Baird has been elected the 44th premier of NSW by the Liberal Party room.

The state treasurer replaces Barry O'Farrell who resigned after giving misleading evidence to the Independent Commission Against Corruption about a $3000 bottle of wine.

At Thursday's meeting, Liberal MPs formally accepted Mr O'Farrell's resignation and confirmed Mr Baird as his successor.

The 45-year-old father of three will become the state's sixth premier in almost 10 years, once he's formally sworn in.

The party room elected Transport Minister Gladys Berejiklian as deputy Liberal leader after Community Services Minister Pru Goward and Energy Minister Anthony Roberts pulled out of the running.

Mr O'Farrell had seen Ms Berejiklian as his favoured candidate to succeed him.

Thirteen minutes after the meeting kicked off, Liberal whip Jai Rowell announced the pair had been elected unopposed.

"I can now confirm that Mike Baird was elected unopposed as the leader of the Liberal Party," he told reporters.

Incoming premier Mr Baird will address the media at 4.30pm and will be officially sworn in at Government House an hour later.

Mr Baird is a committed Christian and former banker.

He is surfing buddies with Prime Minister Tony Abbott and once studied to become an Anglican minister.

He quit a lucrative career in corporate banking and turned to politics, entering the NSW parliament in 2007.

He represents Sydney's northern beaches electorate of Manly.

His father, Bruce Baird, was a lower house federal MP in John Howard's government and was regarded as one of a few moderate voices in the Liberal Party.