The 24-year-old replaces Adam Rossington as the County's four-day skipper, and says he is 'honoured' to captain Northants.
Rossington had been at the helm at Wantage Road since midway through the 2019 season when he took over from Alex Wakely and led Northants to promotion from division two of the County Championship the same year.
But ahead of the new campaign, which starts with a home game against Gloucestershire on April 7, head coach John Sadler has opted to hand the role to opening batsman Vasconcelos.
The South African-born player becomes the club's youngest captain in first-class cricket since George 'Tubby' Vials in 1911.
The left-handed batter, who made his debut for Northants in 2018, has skippered the club on a handful of occasions in the past, standing in when Rossington has missed out through injury.
But he is now the permanent captain as Northants prepare for their first season in the top flight of English cricket since 2014.
And Vasconcelos took to Twitter after the announcement, stating: "Honoured to have the chance to lead the club in red ball cricket.
"It’s an exciting challenge this year in division one and one I’m really looking forward to."
Sadler has also announced that Josh Cobb will continue as the Steelbacks skipper, and lead the team in the Vitality T20 Blast.
On the appointment of the club's two captains for the 2022 season, Sadler said: “Josh has been brilliant. His knowledge of the white ball game is incredible and he’s so tactically astute.
“Ricardo is an incredible young player and now at the stage of his career where he’s ready to thrive and take on this added responsibility.”
Vasconcelos is set to lead the team for the first time as the new skipper in Monday's three-day contest against Cardiff UCCE at the County Ground.
Northants have already got some practice in as they dominated a two-day friendly against Leicestershire at Grace Road on Wednesday and Thursday, but the match against the Welsh students really kick-starts what is going to be a hectic summer of cricket.
A two-day friendly against Durham follows on Thursday and Friday (March 31 & April1) before the season proper gets underway a week on Thursday.
“It’ll be a tough beginning, middle and end to the season but that’s first division cricket and it’s exciting.” said Sadler, who is preparing for his first season as head coach having taken over from David Ripley at the end of 2021.
.“We want to be playing against the best and the lads are buzzing that we are in the first division, the whole club has got a real feel of excitement towards it."