The league's 19th franchise, to enter the national competition in 2028 after a decades-long fight, held its official launch at venues across the state on Monday night.
The club revealed it would be called the Devils and use the colours myrtle green, primrose yellow and rose red.
The club's jumper will be predominantly green with a red collar and a yellow map of the island with a red 'T'.
"The Devil army now needs to fight even harder to ensure we deliver the club in 2028," club board member Kath McCann told the Hobart launch.
The club, expected to field a VFL team earlier than its top league debut, had to negotiate with American entertainment giant Warner Bros to use the mascot.
Tasmania's under-18 team carries the Devils logo and plays in a predominantly green strip - a colour worn by other representative teams in the past.
An AFL licence condition is the construction of a $715 million 23,000-seat roofed stadium at Hobart's Macquarie Point, which is proving a divisive state election issue.
Former Collingwood coach Mick Malthouse recently accused the AFL of "enforcing" the stadium on a small state that doesn't need it.
The state Liberals, who are aiming for a fourth term at Saturday's poll, support the project but have pledged to cap their spend at $375 million.
Labor leader Rebecca White describes the stadium as not the right priority, indicating she wants to see a team prove itself at existing grounds initially.
League boss Andrew Dillon said the stadium, which is part of the licence contract and must still be voted through parliament for approval, is not negotiable.
The federal Labor government is contributing $240 million and the AFL $15 million, with private investment slated to cover any cost overruns.
The club has released $10 foundation memberships and is expected to start selling merchandise in coming months.
Tasmania has produced a host of elite Aussie Rules players including Australian Football Hall of Fame legends Darrel Baldock, Ian Stewart, Royce Hart and Peter Hudson.
The club's board includes Burnie-born three-time premiership winner Alastair Lynch, while Richmond great and Hobart-born Jack Riewoldt has been involved in community tours.
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