He missed all of Ireland's Six Nations campaign and didn't feature in the RaboDirect PRO12 until March, making a try-scoring return against Connacht before a superb performance in Munster's Heineken Cup quarter-final victory over Harlequins.
He went on to make four RaboDirect PRO12 appearances in total and led a brave Munster side in their Heineken Cup defeat to Clermont and with tour captain Sam Warburton sitting out of the Lions' clash with the Barbarians on Saturday because of a knee problem, O'Connell has been made skipper.
"Sam has run a great ship for the past few weeks and I am sure he is disappointed not to be leading the guys out in the first game," said O'Connell.
"But for me personally I am thrilled. Around Christmas and for a few months after that, I didn't think I would be here."
Head coach Warren Gatland expects Warburton to be in action sooner rather than later and admitted it was an easy decision to turn to O'Connell.
"Paul has been great over the last few weeks, and it was probably a blessing that Munster got knocked out [in the semi-finals] of the Heineken Cup," he said.
"He has done a great job supporting Sam and is the best person for the job in terms of his leadership and the respect he has within the squad."
In total, there are 11 players named in the starting XV who plied their trade in the RaboDirect PRO12 last season while a further six have been named on the bench.
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