She is the third woman and fourth Canadian to be appointed General in the church's 146-year history.
The selection was made by the High Council of The Salvation Army during its meeting this week in Sunbury-on-Thames near London.
Commissioner Bond will succeed General Shaw Clifton, who retires at the start of April.
Commenting on her new role, she said: "I love the Lord Jesus Christ and pledge my utmost obedience to him. I am absolutely committed to a life of praise and thanksgiving to God.
"We, The Salvation Army need to be an Army of praise and thanksgiving to God and we must place our trust in God.
"We need his Holy Spirit to come mightily on The Salvation Army."
Once in post as General of The Salvation Army, the commissioner will become the head of more than one million Salvationists in 123 countries.
The General directs Salvation Army operations throughout the world via its international headquarters in London.