I am deeply honored to have been asked to help my country in this critical phase, says the former NATO chief, who previously also served as Norway's Prime Minister in two terms, to TV2.
Stoltenberg's wife Ingrid Schelerud says to the TV channel that her husband's new assignment feels "exciting".
The Norwegian government crisis became a fact on Thursday, after the ruling Labour Party's cooperation partner Centre Party (Sp) chose to leave in protest over the government's energy policy.
"Extremely popular"
The collapse means that Jonas Gahr Støre will now lead a weakened government in a minority position. But according to analysts, Stoltenberg's surprising comeback could give the party a much-needed boost.
He is an extremely popular politician who has a strong position in Norway and internationally, says election researcher Johannes Bergh to the news agency NTB.
He is also very skilled at communicating and running election campaigns.
Survived the terror
Norway is now governed by the first "pure" Labour Party government in 25 years, says the Prime Minister in connection with the presentation of the new constellation.
Five of 20 cabinet members were present on Utøya during the terrorist attack in July 2011, notes Gahr Støre – including the newly appointed Minister of Agriculture and Food Nils Kristen Sandtrøen and the new Minister of Development Åsmund Aukrust.
The reason for last week's government collapse was deep disagreements over the EU's fourth energy package. Stoltenberg's predecessor as Finance Minister, Trygve Slagsvold Vedum (Sp), has accused the Labour Party of giving in to the EU at the expense of the common Norwegian.
Eight ministerial posts became vacant when the Centre Party chose to leave the government cooperation in Norway. The new faces in the government are as follows:
Finance Minister: Jens Stoltenberg, 65
Defense Minister: Tore O Sandvik, 55
Justice Minister: Astri Aas-Hansen, 54
Municipal Minister: Kjersti Stenseng, 50
Minister of Agriculture and Food: Nils Kristen Sandtrøen, 36
Minister for Children and Family: Lene Vågslid, 38
Minister for Research and Higher Education: Sigrun Gjerløw Aasland, 46
Development Minister: Åsmund Aukrust, 39
Facts: NTB