The Dreams FC Executive Chairman beat off competition from five other candidates following a run-off at Friday's Extraordinary Congress in Accra.
The GFA Presidential election failed to produce a winner in the first round, after no candidate managed the required 50% plus one votes.
This forced the voting exercise into a run-off, which was contested by Kurt Okraku, George Afriyie and Nana Yaw Amponsah after Fred Pappoe pulled out.
Mr. Okraku polled 44 votes in the first round and went on to poll 59 votes from the total votes cast in the second round, forcing George Afriyie, who polled just 43 votes, to concede defeat.
Mr, Okraku then went unopposed in the third round and polled 93 votes to emerge winner in the GFA Presidential elections.
In all, six candidates contested the GFA Presidential elections, which took place at the auditorium of the College of Physicians and Surgeons.
They are George Afriyie, Kurt Okraku, Amanda Clinton, Frederick Pappoe, George Ankoma Mensah and Nana Yaw Amponsah.
Kurt Okraku replaces Kwesi Nyantakyi as the new GFA President.