Abdo resigned in May before joining Tennis Australia in July, leaving V'landys as acting NRL chief executive.
The ARL Commission approved V'landys as the game's first executive chairman on Tuesday night.
V'landys had not decided whether to become full-time chief executive while running Racing NSW for 20 years.
The Daily Telegraph reported that family and trusted associates helped him decide over the weekend.
His appointment gives him unprecedented power and accompanies a reported $57 million investment in Super League.
The NRL owns 50 per cent, potentially backed by the ARL Commission if Darren Lockyer's London Broncos are promoted.
Twelve of 14 clubs support the plan.
Initial concerns eased: New South Wales Rugby League, Queensland Rugby League and 16 of 17 NRL clubs support the move.
The constitution requires that approval before a commissioner can hold NRL employment.
The game is heading towards 19 clubs receiving $20 million annually under a seven-year television-rights deal.