The MP for Salford and Eccles takes on the role from Clive Lewis, who resigned from the shadow cabinet earlier this week (see below).
Long-Bailey was previously shadow chief secretary to the treasury.
Other new appointments include Sue Hayman as shadow secretary for environment, food and rural affairs; Christina Rees as shadow secretary for Wales; and Peter Dowd as shadow chief secretary to the treasury.
Corbyn said: "I’m pleased to announce appointments to Labour’s shadow cabinet.
"We have a wealth of talent in our party and the strength of our shadow team will develop Labour’s alternative plan to rebuild and transform Britain, so that no one and no community is left behind.”
Thank you for all your kind words - they're much appreciated. The letter of resignation I sent to @jeremycorbyn can be read in full here: pic.twitter.com/ohgJqB2a08
— Clive Lewis MP (@labourlewis) 9 February 2017
