Sheikh Tamim bin Hamad al-Thani, 33, succeeded his 61-year-old father who voluntarily abdicated as emir yesterday, making his son the youngest ruler in Gulf Arab states.
The cabinet reshuffle is expected to see Sheikh Abdullah bin Nasser al-Thani replacing Sheikh Hamad as prime minister, according to several sources as well as Doha-based Al-Jazeera television channel.
Sheikh Hamad, a driving force behind the tiny Gulf state's rise to global prominence, also held the post of minister for foreign affairs for 18 years.
The reshuffle is also expected to see the appointment of new ministers of the interior, foreign affairs, as well as finance and commerce, sources said.
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Sheikh Hamad's deputy, Khaled al-Attiyah, could become the next foreign minister, they said.
Energy minister Mohammed al-Sada will retain his post, while Attorney General Ali bin Fetais al-Marri could become minister of justice.
The new government is expected to be announced when Sheikh Tamim makes his first address to the nation later today marking his official enthronement as new ruler of the gas-rich state.