The £32 billion project involves tunnelling under London between Wimbledon and Tottenham Hale to improve connectivity.
In addition, it aims to tackle overcrowding in the city's main terminal stations and contribute towards unlocking new housing growth in the capital.
As well as being selected as Crossrail 2 chair, Lord Adonis was appointed the interim chair of the National Infrastructure Commission last year.
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Speaking on his new role, Lord Adonis said: "Without Crossrail 2 London will grind to a halt. There are no greater challenges facing London than overcrowding on the transport network and the city's acute housing crisis. Crossrail 2 will help tackle both.
"I am delighted to be nominated to be its chair, whilst continuing the vital work of the National Infrastructure Commission, and I look forward to making it happen."
Transport Secretary Patrick McLoughlin added: "At this year's Budget, the Chancellor gave the green light to Crossrail 2, a railway to transform how people travel in and around our nation's capital.
"We now look forward to working in partnership with Transport for London and Lord Adonis to fully develop the business case for Crossrail 2."
(LM/MH)
