After four days of feverish speculation, the name was announced by Kensington Palace on Twitter this morning.
The child appears to have been named after Louis Mountbatten, the much-loved uncle of Prince Philip who was killed by an IRA bomb in 1979.
William and Kate have surprised punters in their choice of name, with Louis a 14/1 outsider this morning.
By also giving Louis his father's name, William has continued the tradition of handing down royal names through the generations.
The newborn shares the name Louis with his brother George, who has it as one of his middle names. Louis is also one of William's middle names.
The child's full title is His Royal Highness Prince Louis Arthur Charles of the United Kingdom of Great Britain and Northern Ireland – but he's likely to be known by his rather shorter new name.
The tot, born a healthy 8lbs 7oz, will join Prince George and Princess Charlotte in building up the next generation of the royal family.
Prince William may have given an early hint to the names he was considering as he emerged from the Lindo Wing on Monday, after he said: "There's Arthur, there he is," as he pointed to legendary Sun photographer Arthur Edwards.
A ROYAL INSPIRATION: Who was Lord Louis Mountbatten?
Louis Mountbatten was Prince Charles' much-loved great uncle, who was assassinated in 1979.
Born Prince Louis of Battenburg in Windsor in 1900, he quickly became a prominent figure with the Royal Navy.
The royal served during the First and Second World Wars, later serving as the Chief of Defence.
Married to Edwina Ashley, he had two daughters.
Lord Mountbatten was murdered by the IRA aged 79, who planted a bomb on a boat at his summer home in Mullaghmore, Ireland, in August 1979.
The IRA took responsibility for the explosion, calling it an "execution".
Lord Mountbatten was Prince Charles' great uncle, with the pair having an extremely tight bond.
Prince Charles even referred to him as like the "grandfather he never had".
Louis – a name of French origin meaning renowned warrior – was just the 10th bookies choice, with Albert and Arthur the favourites this morning.
The name is inspired by Earl Mountbatten of Burma, who Prince Charles described as "the grandfather I never had".
And the moniker has been given to multiple rulers, including 18 kings of France.
The choice of Charles as Louis' middle name appears to reflect the decision to give Diana as a middle name to his sister Charlotte.
The Duke and Duchess' brood are spaced around two years apart – with the couple now having three children currently under the age of five.
Prince William joked about this outside the hospital, saying: "Thrice worry now!" as he introduced their new baby to the world.
The Duke told cameras that his two eldest were "very happy…delighted" with their new baby brother.
Kate was in labour for five-and-a-half hours with the latest arrival – but somehow looked in radiant health on the steps of the Lindo Wing.
Wearing a red bespoke Jenny Packham dress, Gianvito Rossi nude heels and earrings loaned by the Queen, she beamed as she carried her new son.
Prince Charles has also shown himself ecstatic over the birth of his latest grandson, saying in a statement: "We are both so pleased at the news.
"It is a great joy to have another grandchild, the only trouble is I don't know how I am going to keep up with them."
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