Kennedy will oversee Lucasfilm Ltd. when Lucas retires from the company in the coming months.
The Star Wars filmmaker will remain as co-chair and CEO.
Announcing the news, Lucas says, "I've spent my life building Lucasfilm and as I shift my focus into other directions I wanted to make sure it was in the hands of someone equipped to carry my vision into the future."
As a producer, Kennedy has been the brains behind Hollywood blockbusters like the Jurassic Park films, E.T. the Extra-Terrestrial, War Horse and the Indiana Jones franchise, which she co-produced with Lucas.