Turkoglu was the leader who provided plenty of inspiration for his country in its runners-up finishes in Istanbul at EuroBasket 2001 and the FIBA Basketball World Cup in 2010.
At TBF's General Assembly in Ankara on Wednesday, the former NBA star was elected as the the organisation's president.
"Today is perhaps one of the happiest days of my life," he said at the assembly. "This has happened because of you."
The 37-year-old, accompanied by his wife and two children, then pledged to do his best for a federation that will be extremely busy in the coming year as Turkey prepares to be a host nation for FIBA EuroBasket 2017.
Among his remarks, Turkoglu spoke of the need for the federation to be innovative and to work hard with clubs in the development of players.
Turkoglu is a beloved sports figure in his homeland. He gained worldwide fame with his long career in North America, where he played for the Sacramento Kings, San Antonio Spurs, Orlando Magic, Toronto Raptors, Phoenix Suns and Los Angeles Clippers
Turkoglu ran unopposed and received 113 of 143 votes. He succeeds Harun Erdenay, who had served as president since May 2015.