The 32-year-old, who has won 78 caps, will lead his country for the first time in matches against Croatia and Latvia later this month.
Former Arsenal and Juventus midfielder Ramsey, who is currently at French side Nice, will spearhead a youthful 24-man squad named by Wales manager Rob Page on Tuesday.
"Aaron was the vice-captain behind Gareth and I see this as a natural progression," said Page.
"He's got a big opportunity to work with the young players. He's in the right time of his career to lead the boys out and he is relishing it.
"I've spoken to Aaron. He's very appreciative of it and he's looking forward to the role."
Bale announced his retirement in January after winning a record 111 caps for Wales' mens team.
Ramsey has done the job before, having been appointed captain at the age of 20 by the late Gary Speed in March 2011.
Speed's successor, Chris Coleman, gave the armband to Ashley Williams the following year.
As well as the departure of Wales' record-scorer Bale, Chris Gunter, Joe Allen and Jonny Williams have also retired from the international scene since the team's disappointing World Cup campaign in Qatar, where they scored just once and finished bottom of their group.
Page has named four uncapped players in his squad for the trip to World Cup semi-finalists Croatia on March 25 and the home game with Latvia three days later.
Midfielders Jordan James and Ollie Cooper both feature, along with Fulham youngster Luke Harris and Ipswich forward Nathan Broadhead.
