Her candidacy was supported by Republican Gov. Mike Pence, who appoints all members of the Ivy Tech board.
Sue Ellspermann, a Republican, resigned as lieutenant governor in March saying she would seek the Ivy Tech job.
Holcomb was confirmed by both the House and Senate early in the day on Thursday.
Ellspermann leaves the Statehouse to pursue the presidency at Ivy Tech Community College.
Indiana Lieutenant Governor Becky Skillman is citing "minor health concerns" as her reason not to run for governor.
Outgoing Democratic Indiana Senator Evan Bayh says he will not seek a return trip to the governor’s office in 2012.