The 77-years-old Swede held the post for the last 16 years.
Platini has said that he will limit the number of Champions League places to three, from the current quota of four.
He said “This is just the beginning of an adventure. I’m happy to be able to represent European football. I’m very moved and very happy.”
He added: “This is a great victory but I have huge admiration for Lennart and I would ask for Lennart Johansson to become an honorary president of Uefa.”
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.