Young will be the fourth presenter to host one of the longest running shows on BBC Radio, and will take over the show from former BBC newsreader Lawley, who has presented the show for nearly 20 years.
Young said: "I've loved 'Desert Island Discs' for as long as I’ve been listening to radio. Its enduring success is testament both to the brilliant format and consistently fascinating guests. There isn't a show on radio I'd rather present. I'm completely thrilled to be doing it and can't wait to get started."
'Desert Island Discs' was first broadcast during the World War II, in January 1942, and was presented by its creator Roy Plomley until his death in 1985. Michael Parkinson held the reins until Lawley took over in 1988. Lawley announed her departure in April.
The presenter of the show asks guests to choose the eight pieces of music, one book and one luxury item they would take with them if stranded on a desert island.
Previous castaways have included the last five Prime Ministers, including Tony Blair, and among others Noel Coward, George Clooney, and Professor Stephen Hawking.
Mark Damazer, controller of Radio 4, said: "I'm delighted Kirsty Young will be taking over 'Desert Island Discs'. I have admired her work on radio and television for a number of years. She combines warmth and curiosity -- the perfect combination to make a success of the programme."
Young is currently the main news anchor for Five's 'Five News'. She began her career on radio at BBC Scotland and has since presented on BBC Radio and TV and ITV.
Chris Shaw, senior programme controller, news and current Affairs at Five, said: "We are delighted that Kirsty will be the new presenter of Desert Island Discs. Everyone here is very pleased and I personally believe this will only enhance her reputation as a brilliant broadcaster and the face of Five.
"She remains committed to the channel and will be returning as the main anchor for Five News in the next few weeks."
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