Marvel announced the news Wednesday with executive editor Tom Brevoort saying "it was about time."
"In 2014, this should be a thing that we shrug off, it shouldn't be seen as revolutionary, but it still feels exciting," he continued.
Brevoort revealed that the transition will be rather smooth for Steve Rogers' fans as the Falcon, the first black superhero, will slip into the red, white and blue suit after Rogers is turned into a 90-year-old man in the latest storyline.
The last time Marvel replaced Rogers was in 2007 when the captain's sidekick Bucky took over after Rogers was seemingly killed.
The first issue of All-New Captain America will be released in November.
Marvel's latest announcement comes one day after it was revealed on The View that the new Thor would be a woman.
Notable deaths of 2014 [PHOTOS]