The veteran left-wing MP, who started the leadership contest as a 200-1 outsider, was crowned winner of the three-month long contest this morning at a special conference in Westminster.
Mr Corbyn, who only received enough MP’s nominations to get on to the ballot just minutes before the deadline, swept to victory on a tide of support from Labour members.
He defeated former Cabinet members Andy Burnham and Yvette Cooper, and Shadow Care Minister Liz Kendall.
Mr Corbyn won 251,417 votes – 59.5% of all those cast. Mr Burnham came second on 80,462, Ms Cooper third on 71,928, and Ms Kendall finished fourth with 18,857 votes.
The new Labour leader also came top amongst members, registered supporters and affiliated supporters.
Mr Corbyn favours renationalisation of the railways and energy industry, a practically non-interventionist foreign policy and the funding of infrastructure projects through People’s Quantitative Easing, i.e. printing money.
Numerous Labour figures warned against electing the Islington North MP as leader, arguing his views harked back to those put forward by the party in the 1980s when it was kept out of power by Margaret Thatcher.
Former Prime Minister Tony Blair told Labour members who were planning to vote with their heart for Mr Corbyn “get a heart transplant.”
His most immediate task is creating a Shadow Cabinet, something which could prove tricky as he is much more popular with party members than his fellow MPs.
Dan Jarvis, the Barnsley MP mooted as a potential leadership runner after Ed Miliband stood down in May, confirmed on Radio 4 last night he would not serve in a Corbyn Shadow Cabinet.
Shadow Business Secretary Chuka Ummuna and leadership rivals Ms Cooper and Ms Kendall have also indicated they could not be in the Shadow Cabinet if Mr Corbyn pushes through with the economic policies he espoused during the election campaign.
Long-term Corbyn allies, including Diane Abbott, John McDonnell and Jon Trickett, could be in line for high-profile frontbench roles.
An MP since 1983, Mr Corbyn is known for his rebellious nature and his opposition to the Iraq War. He has faced scrutiny for his foreign policy views throughout the leadership campaign, and his relationship with terrorist groups such as Hamas, Hezbollah and the IRA have been called into question.
Mr Corbyn has always maintained his communication with such groups is to try and bring about peaceful resolutions to conflicts through dialogue, not military action.
Credit :- Owen Bennett and Paul Waugh/Huffington Post
The Labour Party has at last had the courage to return into a true opposition party. During the Margaret Thatcher years they abandoned their principles to get re-elected with Tony Blair as leader. What was the point ? David Cameron sees Tony Blair as a role model something wrong there ? Labour needs to bring Back Clause 4 renationalise the the railways and energy industries, and begin standing up again for those the party was formed to represent.