Conclave has officially selected the next pope as white smoke has been seen from Sistine Chapel

Pope Francis' successor has been found by the Vatican, with white smoke emerging from the chimney of the Sistine Chapel in Vatican City.

The confirmation of a new leader of the Catholic Church comes after Pope Francis passed away at the age of 88 years old - with his death being confirmed by the Vatican on April 21.

In a statement, Camerlengo Cardinal Kevin Farrell announced with 'deep sorrow' the passing of 'our Holy Father Francis,' saying the Bishop of Rome had returned 'to the home of the Father' at around 7:35 that morning.

He continued: "His entire life was dedicated to the service of the Lord and of his Church. He taught us to live the values of the Gospel with faithfulness, courage, and universal love, especially for the poorest and most marginalised.

“With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite, merciful love of God, One and Tribune."

Pope Francis passed away at the age of 88 on Easter Monday (Franco Origlia/Getty Images)

Following the nine day period of mourning, questions arose as to who was expected to take over as head of the Catholic Church - with eight cardinals in particular highlighted as potentially taking over the baton.

After Cardinals were initially unable to reach a majority vote, causing black smoke to emerge from the chimney, the voters reached an agreement today (May 8) and sent white smoke billowing from the building.

The sight caused onlookers to erupt into cheers and applause from their positions in St Peter’s Square as bells sounded to confirm the news.

The new pope will to take over from Pope Francis to lead role of the Catholic Church - which has a staggering up to 1.39 billion followers.

How a new pope is selected

A new pope is elected by a group of senior Catholic clergy called the College of Cardinals.

The group come together in something called a papal conclave, where the clergy vote up to four times a day in a secret ballot in the Sistine Chapel.

There are over 240 cardinals across the globe and the number of papal electors is typically capped at 120. Cardinals are also only allowed to vote if under the age of 80.

This time round, Al Jazeera reported there were 138 eligible voters.

A candidate has to receive a majority of the vote measuring two-thirds to become the new pope, with white smoke being released if a verdict has been reached.

The United States Conference of Catholic Bishops website notes the process typically lasts from around 15 to 20 days, as quoted by The Independent.