Stanton takes over from James O'Shea who left the paper last month after little more than a year in the job following a clash over newsroom budget cuts.
The new editor has headed up the paper's digital news operation and the integration of web and print.
His appointment follows the announcement earlier this week that between 100 and 150 job cuts are to be made at the paper. They are the cuts that O'Shea refused to make before departing as editor.
David Hiller, the publisher of the Los Angeles Times, said: "This is a critical period for the Times -- in fact for all news media -- as we change and grow, and show we can sustain the future of one of the truly great news franchises in America."
"We are literally in a battle to save the future of this great newspaper and we have to change to survive and thrive in the new world," Hiller added.
The cuts are part of a company-wide package being made by owners the Tribune Company as the US newspaper industry struggles to deal with declining ad revenues.
The cuts on the West Coast follow cutbacks at other US newspapers. Last month The Chicago Sun-Times said it might lay off up to 35 newsroom staffers and yesterday the New York Times announced that is planning to cut 100 jobs.
The New York Times Company did not rule out compulsory redundancies, but said that most jobs would go as a result of not filling vacancies and voluntary redundancy.
The cuts were announced by executive editor Bill Keller, but he gave no details as to where the cuts would be made.
A source told Reuters that there was a lot concern among news room staff as to when the cuts would stop and added that it was a "very serious cut".
NY Times spokeswoman Catherine Mathis said: "We have been increasing the size of our staff while many other papers were shrinking."
The cuts come as the paper is under pressure from activist investors who are pushing for board seats and a change in strategic direction for the paper with demands for a greater focus on digital.
Read Gordon's Republic recent blog post on the US newspaper industry.
National Press
LA Times appoints new editor in wake of job cuts
LOS ANGELES - The New York Times and Los Angeles Times have announced hundreds of job cuts as the West Coast paper named its head of digital, Russ Stanton, as the paper's new editor, the fourth in three years.
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