Jonathan May-Bowles, an activist who also goes by the name Jonnie Marbles, has been charged with behaviour causing harassment, alarm or distress in a public place. He is bailed to appear before City of Westminster Magistrates Court this Friday.
May-Bowles is accused of attacking the 80-year-old with a plate of shaving foam during the three-hour sitting of the culture media and sport select committee yesterday.
Murdoch's wife Wendi Deng, who was sitting behind the billionaire as he gave evidence to the MPs, leapt up and pushed the assailant away. She then hit him with the plate as he was taken away by police.
Attempting to justify his actions, May-Bowles told Sky News: "Beyond the fact that this was not a UK Uncut action, I guess I did it because I had no faith in the Parliamentary process and I wanted to see some kind of justice done."
Members of the audience described how the activist had said Murdoch was a "naughty billionaire" as he carried out the attack.
The hearing was suspended temporarily as May-Bowles was detained by police, and it is understood that his membership of the Labour Party was suspended after the incident.
Other witnesses have said that May-Bowles had been asleep earlier while Murdoch was answering questions, while he had barely reacted when other protestors unfurled posters.
Jeff Read, who was in the audience, said: "Everyone in the room seemed stunned. The police really seemed stunned - there was no-one on Murdoch's side of the room.
"Murdoch's wife got up and took the plate, and smacked the guy who did it as hard as she could. I suppose the assailant was really shocked by that."
When the hearing resumed after the incident, Labour MP Tom Watson concluded his questioning by telling the News Corporation chief executive: "Your wife has a very good left hook."
Murdoch, who was answering questions alongside his son James, had earlier described the hearing as the "most humble" moment of his career, but remained defiant that he was not responsible for the News of the World phone hacking scandal.
Watch a video of Rupert Murdoch being attacked at the hearing below: