Wood captained the club in both 2018 and 2019, after stepping up for most of the club’s premiership-winning season following the injury to Bob Murphy.
Bontempelli, 24, will step up after being Wood’s deputy for the last two seasons, with Lachie Hunter set to become the club’s vice-captain.
Wood will remain in the leadership group.
Dogs coach Luke Beveridge commented on the appointment on Tuesday.
“Congratulations to Marcus as he succeeds Easton as our captain,” Beveridge told the club’s website.
“We have come to admire Marcus for the impact he has had on the game and his already remarkable reputation as a Western Bulldogs player.
“We are blessed to have tremendous wealth of character within our playing group. Marcus has been acknowledged by his peers as the young man who deserves recognition through past contributions, the promise of the future and the impression he will make as the captain of our Club.
“It goes without saying that everyone here is thrilled for Marcus and will do all we can to support him as he takes on new responsibilities.
“We also congratulate Lachie as we recognise him through the vice-captaincy as the teammate best equipped to support Marcus, to continue to set a fine example and grow his own leadership qualities.”