"Harry Jenkins will be our candidate for Speaker," Mr Albanese says.
Mr Albanese, who is the Leader of the House, says the ALP has been in "good faith" discussions with members of the Coalition to take on the role of Deputy Speaker.
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The tussle over the position of Speaker started shortly after the election, when both Labor and the Coalition entered into negotiations with key independents in order to form a minority government.
Part of a set reforms agreed on by both major parties included a clause on the "pairing" of Speaker and Deputy Speaker.
In normal circumstances, the Speaker and Deputy Speaker would both be drawn from the party that forms government.
Both would have a casting vote, which allows them vote on legislation only if there is a deadlock.
However, in the current minority government situation, in which neither party has a majority, Labor would require all members of the party to vote for legislation, putting them at a disadvantage if both the Speaker and Deputy are unable to do so.
Hence the agreement on "pairing" the Speaker with a Deputy from another party.
Yesterday, leader of the Opposition Tony Abbott reneged on this clause of the reforms.
"What has occurred yesterday is that Tony Abbott has broken his word," Mr Albanese says.
"Tony Abbott has shown he is determined to be a wrecker."
Earlier, there was speculation Liberal MP Alex Somlyay had broken ranks with Mr Abbott and entered into negotiations with Labor on taking on the deputy role.
Opposition Treasury spokesman Joe Hockey dismissed the reports that Mr Somlyay, who was dumped as the opposition's whip in the recent reshuffle, may agree to be deputy speaker.
Mr Albanese confirmed he had been in "good faith" talks with members of the Coalition on the pairing arrangements.
The Labor MP says there is a "great deal of anger within the Coalition ranks" on Mr Abbott's decision to renege on the reforms.
"Many [Coalition] members… have expressed their concern," he says.
"At the end of the day, it's the nation that suffers," Mr Albanese says.
