Silverwood took over as England fast bowling coach under Trevor Bayliss early last year and it was announced on Monday (October 7) he is the man to succeed the Australian.
Former India and South Africa coach Gary Kirsten had also been considered for the position, but the ECB's selection panel decided Silverwood was clearly the best option.
Director of England men's cricket Ashley Giles said: "We are delighted to confirm Chris as England men's head coach. We have gone through a thorough process and looked at all the options that were available to us. Chris was the standout candidate.
"I believe he is what we need to take our international teams forward. He is somebody we know well, but it is his intimate understanding of our structures and systems and his close relationships with Test captain Joe Root and white-ball captain Eoin Morgan that will help us develop our plans for the next few years.
"He has performed exceptionally well during his role as an assistant coach and has the ultimate respect of the players that have worked with him.
"Chris demonstrated in his interview a clear understanding and strategy of how both the red and white ball teams need to evolve. He has some detailed thoughts on what it will take to win the Ashes in Australia and win major ICC white-ball tournaments.
"Ultimately, his highest quality is that he is a winner and that will be an important part of the job as we look to strive to become the most respected team in the world across all formats."
Bayliss delivered on his brief of transforming England into a force in limited-overs cricket, that plan reaching its culmination as they dramatically won the World Cup on home soil.
However, England have struggled for consistency in Test cricket and failed to regain the urn in this year's Ashes, which ended in a 2-2 draw.
Silverwood will soon have a chance to turn around England's fortunes in the longest format. England face New Zealand in two Tests, the first starting on November 21, after five T20 matches in their tour of the country.
A tour to South Africa follows, beginning at the end of the year, with Silverwood hopeful England can make it a positive start to his tenure.
"I am thrilled and honoured to be appointed England head coach," he said. "I aim to continue the great work that has been done over the past five years and build on our future, especially in the Test arena.
"I have enjoyed working with the players over the past two seasons and developing the best crop of talent in the English game.
"I am excited to get started and build teams that the whole game can be proud of. There is a tremendous amount of talent coming through and there is enormous potential for growth. The hard work starts now and I am confident we can make a positive impact during our winter tours of New Zealand and South Africa."