The Panthers introduced Young at a news conference in Charlotte on Friday morning.
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Young started by thanking the team owners, David Tepper and Nicole Tepper, GM Scott Fitterer and head coach Frank Reich for believing in him.
WATCH: Young's full introductory news conference
Bryce Young introduced as Panthers new QB
"This is an opportunity that I don't take lightly and don't take for granted," Young said. "It's a huge blessing. I'm super excited to get to work."
The 21-year-old former Heisman Trophy winner also joined "Good Morning America" on Friday morning after a night of celebration at the draft site in Kansas City, Missouri.
SEE ALSO | Recap of every first-round pick and details on when the next rounds start
When NFL Commissioner Roger Goodell called his name, Young said, "It was surreal."
"That's something that you dream of. For that to come to fruition, I was super blessed to have my parents there and my family around me and be able to share that with them," Young said, smiling. "It's a moment I'll never forget."
While most mock drafts had Young as the preferred top pick, there were some lingering questions about whether it would actually happen.
WATCH: Bryce Young on GMA
Bryce Young talks being No. 1 NFL draft pick to Panthers
"Just being No. 1 was not something I was too focused on. I want to be in the right fit," he said. "In big picture things like this in my life, I feel like that's not up to me, I feel like God leads those things and I knew I was going to end up wherever he wanted me to be."
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Young continued, "For me to be a Carolina Panther, it's surreal. I couldn't ask for a better situation, so I'm super blessed with how things turned out."
Young also became the first Alabama player in the school's storied football program to go No. 1 in the draft since Harry Gilmer in 1948.
SEE ALSO | Fans prepare to greet Bryce Young in Charlotte
Fans prepare to greet Bryce Young in Charlotte
"For me to be able to do something that hasn't been done at the university, that means a lot. I take a lot of pride in that, it's a huge honor," he said. "But it doesn't entitle me to anything at the next level. I'm super excited and ready for the work that it's going to take and ready to get to work in my new place."
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While the 5-foot-10, 204-pound quarterback doesn't fit the prototypical size of a successful NFL quarterback, he said "Everyone's entitled to their own opinion." He said he is confident he can stand up to the hits he will take on the field.
"I have been this size relative to everyone around me my entire life. I know who I am. I know it's gonna take a lot of work to be able to have success at the next level and this is a new environment for me, I'm just blessed to have this opportunity -- I'm ready to help the Carolina Panthers win some football games."
ABC11's Michael Perchick and ABC News contributed to this report.