While Misbah would continue to lead the Pakistan side in Tests and ODIs, Hafeez will also be his deputy in the two formats.
Former captains Shahid Afridi and Shoaib Malik were in contention for captaining the T20 side but PCB chairman Zaka Ashraf has indicated that they were looking at a long-term option.
"Misbah has rendered great service to Pakistan cricket but we felt it is time to appoint someone younger for T20 format," Ashraf told a press conference, here today.
"We have picked Hafeez keeping in mind the future but Misbah will continue to lead in Tests and ODIs. The appointments are for the coming tour to Sri Lanka," he said.
Pakistan will tour Sri Lanka from May 29 to play three Tests, five ODIs and two T20 matches.
