Reed, whose constituency is Croydon North, moves into education following nearly three years as shadow civil society minister.
The post has been empty since former social worker Lewell-Buck quit after defying the Labour party line during a series of votes on Brexit.
Reed said on Twitter that he was passionate about better support for vulnerable young people.
The politician has previously raised concerns about the unfair impact of cuts to Sure Start children's centres in his consituency, with 28 dedicated children's centres in Croydon in 2010, and eight left by 2014.
Delighted to be appointed Shadow Minister for Children today, I'm passionate about better support for vulnerable young people. Congratulations to @vickyfoxcroft who takes over as Shadow Civil Society Minister - thx to the many people in the sector who supported me for 3 yrs
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