The selection of Emanuel s the first major public decision made by Obama since he was elected as president on Tuesday, defeating Republican John McCain. Democratic officials who disclosed Emanuel's acceptance to Politico did so on the condition of anonymity.
"I have a lot to weigh: the basis of public service, which I've given my life to, a career choice. And most importantly, what I want to do as a parent," Emanuel said in an interview according to Politico.
"And I know something about the White House. That, I assume, is one of the reasons that President-elect Obama would like me to serve. But I also know something about what it means to a family," he added.
Emmanuel, who served in Bill Clinton's administration, will have to resign his seat in Congress and relinquish his position in the House Democratic leadership and put aside hopes of becoming House speaker.
Emmanuel also served as senior adviser and fundraiser for Chicago Mayor Richard M. Daley before joining the Clinton White House.
He also co-authored the 2006 book The Plan: Big Ideas for America and is a member of the New Democrat Coalition.
Meanwhile, Robert Gibbs, a top aide to Sen. Barack Obama (D-Ill.) on his campaign and in his Senate office, will be named the White House press secretary, the Democrat official said.