Nemwang had served for four years as chairman of the first Constituent Assembly, which was dissolved in May 2012.
The Nepali Congress, the largest party in the assembly, and Rastriya Prajatantra Party-Nepal supported Nembang's candidacy but the UCPN-Maoist and Madhesh-based parties remained neutral in the election.
Nemwang will also serve as Speaker of parliament.
He will take oath of office and secrecy from President Ram Baran Yadav tomorrow.