The children's laureate - always a well-known writer or illustrator of children's books - is chosen by a panel of judges from the book world. It comes with a bursary of Â£15,000, not to mention a shiny, silver medal.
The role has a pretty loose job description - the laureate has to "promote and encourage children's interest in books, reading and writing".
Jacqueline Wilson's "obsession" while she was children's laureate was to "get everyone to read aloud to children, all children, from the age of nought to 11".
Malorie Blackman revealed that she spoke to over 20,000 teenagers when she was in the role but arguably her main achievement was setting up the UK's Young Adult Literature Convention, which now takes place each year as part of the London Film and Comic Con.
Chris Riddell has spent much of his two years defending school libraries and librarians, and promoting the art of illustration at live events. In his final speech before he passes on the baton, he said the lack of investment in school libraries is a "blight on the intellectual development and creative future of all our children", as well as highlighting the issues faced by child refugees in the UK.
Quentin Blake, the first children's laureate and best-known for his collaborations with Roald Dahl, produced a book called A Sailing Boat in the Sky in collaboration with 1800 French-speaking schoolchildren.
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Charlie and Lola creator Lauren Child has been named as the new children's laureate, taking over from Goth Girl author Chris Riddell.