The appointment follows the July decision of incumbent John Winterburn to step down from the position after 32 years, while remaining on the board.
Wedlock was appointed to the Willowbank Raceway Management Committee in 2001 and has been Acting President since 29 April 2013 when Winterburn and Vice-President Paul Casos were unable to fulfill their roles due to illness.
"It is business as usual for the Willowbank Raceway Management Committee as we seek to drive Willowbank Raceway forward as a leader of Australia's drag racing scene into 2014 and beyond," said Wedlock.
"I am greatly looking forward to the challenges which lie ahead in this current market, and to working with the Willowbank Raceway community – the board, racers, volunteer officials, employees and spectators – for exciting new opportunities in the months ahead."
Willowbank Raceway is Queensland's premier drag racing facility, located 45 minutes from Brisbane or just a short drive from Ipswich, offering a year-round program of events for the entire family. For more information including a full event calendar, please visit www.willowbankraceway.com.au.