David Moyes will begin his second stint as Everton manager following Sean Dyche's sacking, the struggling Premier League club announced.
Moyes previously managed Everton from 2002 to 2013. He returns to the club who are struggling in 16th place in the Premier League, winless in the last five league games and sit just a point above the relegation zone as they look to continue their 71-year run in the English top flight.
Everton, who were taken over by the Friedkin Group last month, are also set to move to a new stadium later this year.
"David is widely recognised as one of the Premier League's most experienced and accomplished managers, having led Everton for more than 500 matches from 2002 to 2013," a statement on the club's website read.
"We are pleased that David is joining us at this pivotal time in Everton's history," Everton's executive chairman Marc Watts said. "With over a decade of experience at the club, he is the right leader to propel us through our final season at Goodison Park and into our new stadium. We look forward to working with David to build the foundation of a new era for Everton," he added.
"It's great to be back! I enjoyed 11 wonderful and successful years at Everton and didn't hesitate when I was offered the opportunity to rejoin this great club," Moyes remarked.
The club's new owners, the Friedkin Group, made a move for Moyes after dismissing Dyche just hours before Thursday's 2-0 win against Peterborough in the FA Cup third-round.
Moyes is reported to have agreed a two-and-a-half year contract to return to Everton 12 years after leaving for an unsuccessful spell in charge of Manchester United.
The Scot, 61, has been out of work since leaving West Ham at the end of last season. He is set to start his second spell as Everton boss against Aston Villa in the Premier League on Wednesday.
Moyes, who led Everton to the FA Cup final in 2009, had an uninspiring spell at Man United following the exit of Sir Alex Ferguson. He has since managed Real Sociedad, Sunderland and West Ham United, winning the Conference League with the latter.
"I’m excited to be working with The Friedkin Group and I am looking forward to helping them rebuild the club," Moyes added.
"Now we need Goodison and all Evertonians to play their part in getting behind the players in this important season so we can move into our fabulous new stadium as a Premier League team."
Everton, without a major trophy since 1995, were bought last month by the Texas-based Friedkin Group in a deal reportedly worth in excess of £400 million.
Former Everton defender Leighton Baines, now under-18s head coach, and club captain Seamus Coleman, who is currently injured, took charge for the 2-0 win against Posh.
Speaking after that game, Michael Keane conceded that the players have to take some responsibility for Dyche's sacking.
"Any time you lose a manager it's really disappointing and sad," Keane said. "He has been brilliant for me. He's been a brilliant manager, is a brilliant manager. It's just one of those things. It's football and it doesn't always work out."
Everton will be desperate to avoid relegation from the Premier League under Moyes as they prepare to move to their new Bramley Moore Dock Stadium next season.
