General Abdul Fattah Al-Sisi, flanked by religious and military leaders, said the chief justice of constitutional court would take the powers of the presidency.
His announcement means President Mohammed Morsi is no longer in power.
The move follows four days of mass street protests against Mr Morsi, and an ultimatum issued by the military which expired on Wednesday afternoon.
The current whereabouts of Mr Morsi are unknown. Have we seen the end of Mr. Morsi of the Muslim Brotherhood Party? Is he like that of a lonely man. Diserted by some senior members of his cabinet, unsided by the Police and the Military.
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