Former finance secretary Ashok Lavasa was also appointed as an election commissioner to fill up the vacancy that would have arisen in the three-member Election Commission after Joti's retirement tomorrow.
Sunil Arora is the other commissioner in the poll body.
Rawat will take over as the CEC on January 23, a law ministry notification said.
His tenure will end in December this year and Arora, the senior most commissioner after the CEC, is expected to take over as the head of the poll panel as per convention.
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An EC or CEC has a tenure of six years. But if he turns 65 before that, he demits office.
Born on December 2, 1953, Rawat is a former Madhya Pradesh cadre IAS officer. His appointment will come into effect from the day he assumes office, a law ministry statement said here.
Rawat also served as secretary, department of public enterprises in the ministry of heavy industries. Earlier in 1993, he served as a director in the defence ministry.
An awardee of state government's 'recognition of forest rights' in 2009, Rawat did M.Sc in social development planning in 1989 in the United Kingdom.
Lavasa, besides his stint in the finance ministry, was with the ministries of environment and forest, civil aviation, power, home, finance at the Centre and industries, tourism and public relations in Haryana, his cadre.