Chandigarh-born Srinivasan's nomination to the US Court of Appeals for the District of Columbia Circuit was unanimously approved by the Senate with 97 voting in favour.
46-year-old Srinivasan has become the first South Asian to be appointed to the top American court amid speculation that he may one day be tapped for the Supreme Court.
Congressman Ami Bera, the only serving Indian-American lawmaker in the current Congress, said he was thrilled at the unanimous confirmation of Srinivasan by the US Senate.
"He will be an outstanding, fair-minded judge. This is a historic moment for all Indian Americans and Asian Americans, and it's a fitting way to celebrate Asian Pacific American Heritage Month this May," Bera said.
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"Sri Srinivasan made history today. As the first South Asian on the U S Court of Appeals for the District of Columbia Circuit, Sri will offer a unique perspective and added diversity that is long overdue in our justice system," said Tulsi Gabbard, the first Hindu lawmaker in the US Congress.
Applauding Srinivasan's confirmation, Deepa Iyer, Executive Director of South Asian Americans Leading Together (SAALT), an umbrella group of 41 community organisations, said "Sri Srinivasan has the ideal set of experiences and skills for this important position."
Noting that he "will be the first South Asian American federal appellate court judge in the history of the United States," SAALT also commended President Barack Obama for nominating Srinivasan, and the Senate for confirming his nomination.
In a letter to the Senate Majority Leader Harry Reid on Wednesday, a group of 21 influential US lawmakers led by Bera, had demanded confirmation of Srinivasan's nomination to the second highest US court.
"As members of Congress, we value the importance of having diversity on the court. Representation of Indian Americans within our judicial system is overdue," the lawmakers wrote in their letter.