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Australia is to have a new prime minister after Tony Abbott was ousted as leader of the centre-right Liberal Party by Malcolm Turnbull, the BBC reports.

In the hastily arranged party leadership ballot, Mr Abbott, who had been plagued by poor opinion polls, received 44 votes to Mr Turnbull's 54.

Mr Turnbull said he assumed that parliament would serve its full term, implying no snap general election.

The new leader will be Australia's fourth prime minister since 2013.

The prime minister-elect is expected to be sworn in after Mr Abbott writes to Australia's governor general and resigns.

The vote took place at a meeting of Liberal MPs late on Monday. They also voted for Foreign Minister Julie Bishop to remain deputy leader of the party.

Speaking after the result was announced, Mr Turnbull praised his predecessor for his "formidable achievements" as prime minister.

The new party leader said Australia needed to have "the economic vision, a leadership, that explains the great challenges and opportunities we face".

He said he would lead "a thoroughly Liberal government, committed to freedom, the individual and the market".