The Rushcliffe MP was elected to succeed Richard Cope at the club's Annual general Meeting on Monday.
He follows former fellow Conservative MP and ex-Prime Minister John Major, who is President at Surrey, into cricket administartion.
"Kenneth has had a life long interest in cricket," Nottinghamshire Chairman Albert Bocking said.
"He has been a member of Nottinghamshire County Cricket Club for many years and has represented the Borough of Rushcliffe, in which Trent Bridge is situated, as a Member of Parliament for over 30 years.
"In this capacity he has been a constant source of support to the Club throughout the various development projects we have undertaken as well as maintaining a keen interest in our performance on the field.
"We are honoured that Kenneth has accepted our invitation to become President and I hope he will thoroughly enjoy his term of office."
Nottinghamshire will be opening the new Fox Road Stand and hosting a Nat West Series one-day international between England and Sri Lanka and a Test Match between England and India this year.