MPs have 20 minutes to vote in a secret ballot, and it will take about an hour to count them.
He has served as one of three deputy speakers since 2010 and is well liked and respected by lawmakers.
It shouldn't. The speaker's role is to keep control of debates between United Kingdom lawmakers in Parliament.
Another Tory MP, Sir Henry Bellingham, withdrew his bid for Speaker on November 1, claiming his rivals were "better placed" to win cross-party support.
It means there are now seven candidates in the running. Hoyle won 267 of the 565 votes cast, more than Bryant's 169 but short of the overall majority needed to win.
Former Speaker John Mr Bercow, 56, who also resigned as an MP, entered Parliament in 1997 and held several shadow ministerial positions before taking the Speaker's chair on June 22 2009, promising to serve "no more than nine years in total".
The choice of a new speaker comes a day before Parliament is dissolved for a December 12 national election in which all 650 seats in the House of Commons are up for grabs.
Parliament will decide who will replace the controversial John Bercow, following his recent retirement.
The now Lord Hoyle - made a life peer after standing down in the same year his son was elected to the Commons - was so taken by Lindsay Hassett, a middle-order batsman and vice-captain of an Aussie team that was undefeated in all 34 matches it played in England that summer, that he bestowed on his offspring the same name.
The contest was between Lindsay Hoyle and Chris Bryant, both of the UK Labour party.
It may be an easy win, or it might be an intricate tactical battle - with eight declared candidates in the field, nearly anything could happen.
Mr Bercow left the role after a decade which has been viewed as a time of reform but also controversy.
Lindsay Hoyle, who is now a deputy speaker, won the first round, with 211 of the 562 votes cast.
Dame Eleanor Laing was the second most senior deputy speaker and was also a strong choice for the role.
Choosing a new speaker has been an unremarkable event in the past, but Bercow became a key player in the chaotic process of Britain's exit from the European Union.
Candidates to replace him are making pitches to lawmakers before voting later Monday.
A British Conservative legislator has dropped out of the race to become the next House of Commons speaker.
Bercow's successor will run the daily business of the Commons, keeping lawmakers in line with robust cries of "Order!"
"And to achieve our goals by the peaceable arts of reason and debate invigilated by an impartial Speaker, which was and remains one of our greatest gifts to the world". Critics accused him of favoring anti-Brexit politicians at the expense of supporters of leaving the European Union.
MPs were particularly riled that year after the main policy announcements appeared in the London Evening Standard newspaper before the then-chancellor George Osborne stood up at the despatch box.
Trump must turn over tax returns, federal appeals court rules
Trump has fought vigorously to shield his financial records , and the case appears headed to the United States Supreme Court . The House then sued the Treasury Department and the Internal Revenue Service in July to try to get access to the tax records.
Roger Penske buys Indianapolis Motor Speedway and IndyCar
IMS earlier Monday sent a document to IndyCar teams, a copy of which was obtained by the AP, outlining the basics of the deal. The deal represents a coup for Penske, whose IndyCar team is the most successful in Indy500 history with 18 victories.
NBA 2020 Predictions: East/West Champs and Eventual Winner
West champ While choosing Philly as East Coast champ is a relatively easy bet, looking at the West provides much more speculation. Finals Selections East Champ As mentioned, the landscape of the NBA has been ripped up after a summer of upheaval across rosters.