PM Modi described 68-year-old Naidu as a farmer's son who "brings years of experience in public life and is admired across the political spectrum".
He said he has always admired the hardwork and tenacity of Mr Naidu, currently a minister in his Cabinet holding the portfolios of Information and Broadcasting and Urban Development.
"I know @MVenkaiahNaidu Garu for years. Have always admired his hardwork & tenacity. A fitting candidate for the office of Vice President," the prime minister tweeted, soon after the announcement of the decision of BJP's Parliamentary Board, the highest decision-making body of the party.
"The years of Parliamentary experience @MVenkaiahNaidu Garu has will help him discharge the important role of Rajya Sabha Chairperson," PM Modi added.
The Vice President is also the Chairman of the Rajya Sabha.