King led Origin for 16 years until late last year and was recently appointed as the president of the Business Council of Australia.
Before that, the 62-year-old engineer spent six years as managing director of Boral Energy.
BHP chairman Jac Nasser said King’s appointment reflected the board’s commitment to board succession and planning.
“Grant is an excellent appointment and he will bring to the board his strategic thinking, immense intellect, and his ability to apply a long-term view,” he said.
“He has extensive executive experience leading a company that has operated in a volatile and changing global environment, and broad oil and gas industry experience.”
King’s appointment comes as BHP searches for a new chairman to replace Nasser.
Nasser will step down this year after the company appoints his successor.
BHP director Pat Davies will step down to focus on his family business and to pursue other interests.
He’d been on the board since 2012.
BHP’s board comprises 10 non-executive directors, plus CEO Andrew Mackenzie.