The Hibs chairman was elected unopposed to the role at the annual general meeting of the SFA at Hampden on Wednesday afternoon.
There has been criticism of a system which sees the office bearers of the organisation appointed by a line of accession. But Petrie, who has been a director on the SFA board since 2007, has pledged to prove his worth as he succeeds Alan McRae and begins a four-year tenure.
“My appointment is not a reward for what I have done, rather a recognition of the contribution I can make during my term of office as president,” said Petrie.
“I take the responsibility seriously and will continue to work hard in the best interests of Scottish football.
“We are a members organisation with responsibility for all of the game. We need to harness our strengths and engage in a constructive way with all of our stakeholders to make the Scottish FA and the national game the best it can be at all levels.”
Petrie becomes the third representative from Hibs to become SFA president, following former Easter Road chairman Harry Swan (1952-56) and ex-director Tommy Younger (1983-84).
“It goes without saying that today is a proud day and I am grateful to the membership for endorsing my presidency,” added the 63-year-old.
“It is an honour to become president and follow in the footsteps of Harry Swan, the respected former Hibernian chairman of 30 years standing, who became president in 1952 until 1956.
“Harry was a pioneer. He was a visionary president of the Scottish FA whose influence and forward thinking persuaded the game to look beyond its domestic horizons and embrace the possibilities that lay in European football.”
Alloa chairman Mike Mulraney was named as the new vice-president, also unopposed.
“I will leave no stone unturned in helping to take the game forward with a clear direction and in a collaborative way,” said Mulraney.
“During my time as a Scottish FA board member I have seen progress in working closer with the membership and as vice-president my commitment is to continue to advocate working more efficiently and effectively with and for our member clubs so that the pursuit of higher standards is achieved in an integrated fashion.”