Following Matthew Pavlich’s decision on Wednesday to step down after nine years in the role, every Docker selected five teammates on a 5-4-3-2-1 points basis.
The leadership group was formed from those votes and the coaches’ votes were also integrated.
Following the lengthy process, 30-year-old Mundy became the eighth captain in Fremantle’s 22-year history.
Pavlich will remain in the leadership group, joining new member Michael Johnson, Lee Spurr, Aaron Sandilands and reigning Brownlow medallist Nat Fyfe.
Mundy said his selection came as a big shock.
“(It was a) huge surprise,” Mundy said.
“Obviously being a part of the leadership group for a number of years now and (having) mildly successful on-field years I’ve really seen a lot of growth in that entire group.
“It’s a huge thrill for me. It’s a fantastic honour to be Fremantle’s next captain.
“In my time here I’ve had the privilege to play underneath Peter Bell and Matthew Pavlich, both great examples of fine captains and great people.
“I hope to emulate that to a certain extent and be a really shining light for our playing group and hopefully that can really drive some on-field success.”
Mundy said he was surprised earlier this week when Pavlich elected to stand down as captain.
“I was expecting that he’d roll on again,” Mundy said.
“He’s still a very valuable player and a very valuable member of our group. Obviously he’s been a fantastic captain. It took me by surprise a little bit.”
The vote took place early on Friday afternoon and Mundy said he was yet to speak with Pavlich about the role but had already planned to seek out his advice given he led the club for a record 189 games over nine seasons.
There was only one change to the Dockers’ 2015 leadership group, despite the change of captain.
Luke McPharlin’s retirement opened the door for experienced defender Johnson to be included for the first time since 2010.
He was stood down from the leadership group that season and suspended for six weeks after being charged by police for cocaine possession.
But since then Johnson has become highly respected member of the playing group. He made the All Australian side in 2013 and has been a hugely influential figure within the squad, particularly with the indigenous players.
Mundy said Johnson’s formal re-inclusion into the leadership was just reward for his hard work.
“Johnno has obviously been through a pretty rough trot a few years ago but he’s been playing some fantastic football since then,” Mundy said.
“He’s a really respected member of our football club and the indigenous community in general. So it’s great to have him back involved and it just speaks to the calibre of person he is.”
The Dockers did not formally name a vice-captain. One member of the leadership group will take on the captaincy duties if Mundy missed a game this season.