The nomination needs to be approved by the Senate, Xinhua reported.
Dan Coats, the current Director, will be leaving office on August 15, according to Trump.
The US President said on Sunday that an acting director will be named shortly.
The DNI leads the nation’s intelligence community and serves as the principal intelligence adviser to the White House.
A 53-year-old Republican, Ratcliffe has served as the congressman for Texas’s 4th district since 2015.
As a member of the House Judiciary Committee, Ratcliffe defended Trump during former special counsel Robert Mueller’s testimony this week about his investigation into alleged Russian interference in the 2016 US presidential election and possible obstruction of justice.
Coats, a former US senator, was sworn in as the fifth DNI in March 2017.
During his tenure, Coats frequently appeared out of step with the White House, which angered Trump.