The 57-year-old, who has held numerous chairmanships, will take over from the outgoing Sir David Richards on June 1, after a unanimous vote from board members
Fry replaces outgoing chief Sir David Richards, an often controversial figure who has nevertheless overseen the Premier League's staggering commercial and financial rise since 1999.
The 57-year-old, who has also held senior positions at the bank Espirito Santo and the BBC finance committee, will begin his new role on June 1 ahead of the Premier League's Annual General Meeting.
Fry was endorsed by a Nominations Committee that included Chelsea chairman Bruce Buck, Stoke City owner Peter Coates and Manchester United chief executive David Gill.
A statement from Buck on the Premier League website read: "In Anthony Fry we have appointed an individual with the correct blend of experience, skills, attitude and demeanour to represent the best interests of the Premier League.
"Anthony's CV speaks for itself, but we were particularly impressed by his aptitude for and understanding of the role, as well as believing his style to be particularly well-suited to developing effective working relationships with both the member clubs and the Executive of the Premier League.
"I would also like to take this opportunity to place on record, on behalf of the clubs, our sincere thanks to Sir Dave Richards for his years of service to the Premier League."