William Hague, a former British foreign minister and onetime leader of the Conservative Party, was elected on Wednesday as the next chancellor of the University of Oxford, a largely ceremonial role which dates back centuries.

Hague was named as the successor to Chris Patten, Britain’s last governor of Hong Kong, for what is seen as one of the grandest positions in higher education.

He beat off competition from the former Labour minister Peter Mandelson and three other candidates. The university said Hague won a majority of support in the final round of voting for the post and he would be the 160th recorded chancellor in the university’s history, a role that dates back at least 800 years.

More than 24,000 former students and past and present members of the university’s governing body took part in the election. “My heart and soul are in Oxford and I will dedicate myself in the coming years to serving the university I love,” Hague, 63, said.