McCartney, 41, will be reviewing the applications of new designers from Europe before shortlisting the top 10 for Berlin Fashion Week, reported Contactmusic.
The collection of new designers will be reviewed by panel of judges at the fashion week and then the winner of the contest will be announced.
The British designer has succeeded Marc Jacobs, who held the position as ambassador for the past two years.
"I'm looking forward to supporting the young fashion talents and I'm curious about all the applications and the potential that we can expect," said McCartney.
"With Stella McCartney we have won a great supporter. Her perspective and her long-standing experience will further strengthen the young designers, the supporting programme and its diversity," said John Cloppenburg, member of the management of Peek & Cloppenburg.
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