Ricky Ponting has been chosen to captain Australia in Friday's match against Sri Lanka after Michael Clarke was ruled out.
Clarke is sidelined with a hamstring injury but is expected to return for his side's following fixture on Sunday, also against Sri Lanka.
Ponting previously led Australia for the majority of the last decade but stepped down from the captaincy in 2011 after his side lost their second successive Ashes series against England before crashing out of the World Cup in the quarter-finals.
However, following Clarke's injury, the selectors have decided to let him lead the team as a reward for his recent fine form which has seen him hit innings of 134 and 221 in the Test Series against India.
Head selector John Inverarity insists it is only a temporary appointment and that he and the other selectors are looking for the veteran to play a mentoring role to opener David Warner, who they believe will be the natural successor to Clarke.
"After careful consideration the National Selection Panel (NSP) has asked Ricky Ponting if he would captain the Australian ODI team in Michael Clarke's absence," Inverarity told ESPNcricinfo.
"David has been gaining valuable experience under Michael Clarke's captaincy and now he will have the opportunity to grow his leadership skills further as vice-captain to Ricky Ponting."