She has replaced Gruffalo author Julia Donaldson and was presented with a medal at a ceremony at King's Place in central London.
Malorie has made it clear that she wants to get "more children reading more", calling on teachers and parents to spend at least ten minutes a day reading with kids.
The author said: "I am honoured to have been chosen as the eighth Children's Laureate.
"A love of books has opened so many doors for me.
"I hope to instil in every child I meet my love and enthusiasm for reading and stories.
"As I would never have become an author if it hadn't been for my local library as a child, I intend to continue Julia Donaldson's amazing work advocating for our nation's public library service."
Malorie says she wants to "make reading irresistible" for children, by encouraging kids to explore a range of literature, from short stories to graphic novels.
She will also be encouraging kids to make their own creative responses to books, including with music.
Malorie Blackman, the bestselling author of the Noughts & Crosses series, has been crowned the Children's Laureate for 2013-2015.