Begg will formally take up the position when the remaining members of the Committee are nominated by the House in the coming weeks.
She was previously a member of the work and pensions select committee and takes over the post from fellow Labour MP Terry Rooney.
Yesterday Conservative back-bencher Andrew Tyrie was elected as chair of the Treasury select committee.
Begg says: “The Work and Pensions Select Committee will play a vital role in examining the new Liberal-Conservative government’s plans for benefit reform and it is an honour to be elected to lead the scrutiny of these policies.
“Any policy decision that the new coalition government takes in regards to work and pensions will directly or indirectly affect every one of my constituents. Therefore, I hope the DWP Select Committee’s input will be taken into account by the government when implementing and reviewing their work and pensions policies.”