Opposition leader Malcolm Turnbull has revealed his new cabinet, putting deputy leader Julie Bishop in the hot seat of shadow treasurer.

Ms Bishop becomes the first woman to take on the treasury portfolio in either the federal government or opposition.

The cabinet reshuffle was prompted by the Liberal leadership change last week, where Mr Turnbull defeated Brendan Nelson by four votes after calling a spill.

Supporters of Dr Nelson have been given smaller jobs, including former education spokesman Tony Smith who becomes the new deputy treasury spokesman and the opposition’s leader in the Senate Nick Minchin who gets broadband communications.

Senator Helen Coonan has been promoted to foreign affairs, shadowing Stephen Smith, while Christopher Pyne enters into the cabinet landing on education.

Mr Turnbull has named Senator Michael Ronaldson his secretary, rewarding his supporter with a key role in the cabinet.

Nationals leader Warren Truss also wins a big portfolio covering trade, transport, regional development and local government.

Mr Truss will be assisted by Ian Macdonald, Barry Haase and John Forrest.

Former foreign affairs spokesman Andrew Robb takes on a new portfolio that combines climate change, infrastructure and COAG.

Tony Abbott stays in community services and Indigenous affairs, while Joe Hockey shifts from health to finance.

Greg Hunt retains his environment portfolio, but is expected to have expanded responsibilities.