Murphy, 25, was confirmed as Blues new on-field leader on Wednesday morning after weeks of speculation the brilliant on-baller would win the appointment to replace decorated champion Chris Judd.
Murphy won his captaincy ahead of other leading contenders Andrew Carrazzo and Adam Simpson, who will be joint vice-captains.
Murphy had been considered a front-runner to replace Judd as Blues skipper, who stepped down after five seasons.
Judd elected not to continue after considering his position for more than three months from the end of last season.
New Blues coach Mick Malthouse insisted on an extensive investigation into leadership qualities of each candidate and even examined contenders in part-time on-field leadership duties during this summer's NAB Cup series.
Murphy will officially lead the Blues as captain in Friday night's NAB competition grand final against Brisbane at Etihad Stadium.
Murphy has played 142 senior Blues games since the precicious young talent was snared at the 2005 national draft as a priority choice and prized number one pick.
The new Blues skipper declared captaincy had always been an ambition.
Murphy said captaincy was a position to which he had always aspired among his AFL objectives.
"It obviously comes with a lot of responsibility but I'm looking forward to it," he said.
"I've got massive shoes to fill.
"I'm humbled by the selection."