Bhavnani, who is currently Commander-in-Chief of the Strategic Forces Command will take charge with effect from August 22, according to an official announcement here.
He succeeds Air Marshal S K Malik, who retired on July 31.
The Air Force, however, is yet to fill another key post of Deputy Chief of Air Staff and also no announcement has been made who will take over the Strategic Forces Command.
The Strategic Forces Command controls the country's strategic weapons like missile and nuclear warheads.