Easterbrook, who has been with McDonald's for 18 years, will leave his position on 30 September.
He replaces Mark Angela, former chief executive of Pizza Express, who left the restaurant chain at the beginning of July. The restaurant chain is owned by the Gondola Group, a private company.
It is understood that Easterbrook will be charged with opening another 200 Pizza Express sites in addition to the 400 already in the UK, as well as expanding the brand abroad.
Easterbrook became the president of McDonald's Europe in November last year, overseeing the operations of more than 6,800 McDonald's outlets in 39 European countries.
He had been promoted only six months earlier to global chief brand officer, from his previous position of UK chief executive.
McDonald's is replacing Easterbrook with Doug Goare, currently executive vice-president of McDonald's global supply chain and real estate development, as of 1 October.
Goare will be replaced in turn by Jose Armario, currently the group president of McDonalds Canada and Latin America.
He will oversee McDonald’s procurement of food, packaging and premiums worth $23bn, worldwide purchasing and supplier relationships, food safety and quality systems strategy. He will continue to look after all international franchising.