After almost a week of unprecedented leadership chaos in Canberra, Treasurer Scott Morrison emerged on Friday as Australia's 30th prime minister.

Morrison, 50, won an open three-way challenge for the leadership of the conservative Liberal Party against former Home Affairs Minister Peter Dutton and Foreign Minister Julie Bishop after Malcolm Turnbull lost the support of his party and resigned from the prime ministership.

The final vote saw Morrison beat Dutton 45 votes to 40 after Bishop was knocked out in the first round of voting.

(Getty/Kyodo)

Morrison is the seventh lawmaker in the last 11 years to take on the top job after a series of leadership challenges plunged the nation's premiership into state of volatility rarely seen in the developed world.

Speaking for the first time as Liberal leader, Morrison, flanked by his new deputy Josh Frydenberg, assured the Australian people that he was working for them.

"There has been a lot of talk this week about whose side people are on in this building. And what Josh and I are here to tell you, as the new generation of Liberal leadership, is that we are on your side," he said.

In a political party that has been deeply divided by left and right factions, Morrison, affectionately known as "Sco-Mo" by his colleagues, is seen as a safe, centrist option who is economically liberal but socially conservative.

Morrison is a conservative Christian who, like fellow leadership contender Dutton, made a name for himself as an immigration minister with a tough stance on asylum seeker policies.

Under former Prime Minister Tony Abbott, Morrison popularized the expression "stop the boats," referring to asylum seeker vessels which historically tried to make land in northern Australian territories.

The expression has since come to dominate much of the political rhetoric around Australia's immigration and border protection policies.

While serving as shadow immigration minister in 2011, Morrison was criticized for being insensitive to the plight of 48 asylum seekers who died when their boat sank while attempting to travel to Australia by boat.

In an interview with a local radio station, Morrison questioned why the then Labor government paid for 22 surviving family members to travel to Sydney where funeral services were being held.

"When it comes to the question of do I think this is a reasonable cost, then my honest answer is 'No, I don't think it is reasonable,'" Morrison said then.

The following day, he apologized, admitting his comments were "insensitive and inappropriate," however not before senior Liberal colleagues called for more compassion.

Due to the controversial nature of the portfolio, Morrison, like Dutton, was very unpopular among the Australian public. However, time and a more palatable Cabinet position have helped soften his image.

Morrison was also a strong detractor of legalizing same-sex marriage in Australia and was one of only 14 lawmakers who abstained from the final, historic vote.

However, despite his conservative leanings, Morrison has shared a close relationship with Turnbull, a moderate who promoted him to treasurer after Turnbull toppled Abbott in a similar leadership challenge in September 2015.

While Morrison voted for Abbott in the 2015 coup, he is believed to have been instrumental in Turnbull's win by agreeing not to stand as Abbott's deputy.

Morrison remained loyal to Turnbull during the early stages of this week's leadership coup, until it became clear that the former prime minister no longer enjoyed the support of the majority of his party.

Given the suddenness of Morrison's ascent to the top job, little is known about how he intends to lead the country. However, his approach to the economy and foreign policy is expected to be similar to his predecessor.

In his press conference on Friday, Morrison identified the ongoing drought in Australia as his top priority, followed by a strong economy.

He also singled out healthcare as an area of interest, saying he was "distressed by the challenge of chronic illness in this country."

Morrison was first elected to the beachside seat of Cook in the southeast of Sydney in 2007.

The area, which is known for is tranquil suburban lifestyle, churches and lack of ethnic diversity, includes the suburb of Cronulla, made infamous around the world for the 2005 Cronulla race riots, which saw attacks directed towards people of Middle Eastern appearance.

Cronulla is also home to Morrison's favorite National Rugby League football team, the Sharks, and he is regularly spotted wearing team beanies and scarfs during cold Canberra winters.

Before moving into politics, Morrison had a successful career in the tourism industry, and was managing director of Tourism Australia when the company launched its infamous "Where the bloody hell are you?" campaign.

The campaign was banned from Britain because of advertising regulations which prohibited the world "bloody."

Despite the backlash, the campaign remains one of the most well-remembered tourism slogans in recent memory.

A devout Christian, Morrison met his wife Jenny at their local church when they were both 12 years old. They were married at 21 and have two daughters.

The family are still regular church attendees, but Morrison has previously said that his "faith in Jesus Christ is not a political agenda."

Morrison was exposed to politics from an early age when his police commander father, John, served as mayor of their local council in the mid-1980s.

Although the Liberal Party may have elected Morrison as a "safe" option, he took over the leadership by a slim margin of just five votes.

With the country headed to a general election in the coming months, it remains to be seen whether Sco-Mo has what it takes to lead the Liberals to victory.