He replaces Nasser Hussain, who retired last week after his unbeaten century in the first Test at Lord's.
England will use the retired ODI skipper's experience during their upcoming one-day campaigns.
The England captain hurt his right knee facing a delivery from a member of the MCC groundstaff in the nets at Lord's.
Dale Steyn said he has made the decision in order to prolong his international career.
West Indies lead in the weather-disrupted series 2-1 with the final match scheduled for Barbados on Wednesday.
Adam Hollioake has given his backing to rival candidate Michael Vaughan as England's next one-day captain.
The England skipper said victory at home next year was a realistic aim
England beat South Africa by 26 runs on the Duckworth/Lewis method after rain washed out play 25.1 overs into the England innings.
The England all rounder enhanced his case for the first Test against West Indies with a ton in the three-day game against Jamaica.
England were 263 for four when bad light ended lay 4.2 overs early.
England won the fourth match by 74 runs to complete a 4-0 whitewash in the one-day international series.
The England captain said he was happy the team was able to conquer the nerves after a strange week leading up to the first match in Zimbabwe.
'We know that he's a quality player and there's a good innings around the corner for him. He has been given the extra burden of being captain and that can be tough and something he's not used to.'
England go into the fourth Test in Melbourne, which starts on Thursday, 3-0 down in the series.\n\n
Shakib was banned by the ICC for two years (one year suspended) for not reporting corrupt approaches
An unbeaten 86 by Mahela Jayawardene enabled Sri Lanaka score 226 in their second innings on day 4 of the first Test.
England are considering playing three specialist spinners in the opening Test match against Sri Lanka.\n\n
The former England captain believes believes England's job will be tougher this year because their bowling attack is inexperienced.
The 25-year-old, man-of-the-match after taking nine wickets in England's first test victory last week, has a hip injury.
The Australian captain mirrors daunting records for England, as the teams ready for the semi-final clash in Champions Trophy.
England were 111 without loss at the close of day 2 in reply to Bangladesh's first-innings total of 203 in the first Test.
The fast bowler took six for 46 as the West Indies were dismissed for 152 in their first innings and then added another two as the tourists ended the day 84 for two after following on.
England finished well on top after a fluctuating third day of the second test against West Indies at Edgbaston on Saturday.
South Africa's main strike bowler misses the fourth Test to attend the birth of his first child
