Steven Gerrard has been appointed as Rangers manager on a four-year deal replacing Pedro Caixinha who was sacked in October.
The former Liverpool midfielder, 37, will however take over from Graeme Murty, who was placed in interim charge following Caixinha’s sack.
Gerrard, who leaves his role as a youth coach at Anfield to take up the Rangers job this summer, captained the Reds and England.
“I am honoured to become the next manager of Rangers,” Gerrard told Rangers’ website.
“I have enormous respect for this football club, and its history and tradition. I can’t wait to start this new journey at Rangers as we look to build on the many successes that this club has achieved.”
The club say Gerrard’s backroom staff “will be announced in due course”.
📺 An extended interview with the new manager will be available to view shortly. pic.twitter.com/K5WHoiYtPf
— Rangers Football Club (@RangersFC) May 4, 2018
Gerrard made 710 appearances and won nine trophies for Liverpool over 19 years and was capped 114 times by England. He captained the national team at three of the six major tournaments at which he played and was Reds skipper for almost 12 years.
He retired in 2016 after a spell with LA Galaxy and joined the youth set-up at Anfield after rejecting an offer to become manager of MK Dons.
Rangers chairman Dave King said: “From the very beginning, talks have been extremely positive and we believe that Steven is the right man to drive Rangers forward.
“He was extremely impressive throughout our negotiations and we are convinced that he has the necessary knowledge and temperament to lead the club to the success we all desire.
“This a special day for our club, our fans and for Steven.”
Murty, having had six games in charge following Mark Warburton’s departure last season, returned to managing the Rangers team on an interim basis earlier this term.
By December the 43-year-old was put in formal charge for the rest of the campaign after the club’s unsuccessful approach for Aberdeen boss Derek McInnes.
The former Scotland and Reading defender won 18 of his 29 games in charge this season and lost eight before being relieved of the manager’s duties on Tuesday.
His assistant Jimmy Nicholl and coach Jonatan Johansson were put in charge of the first team for Rangers’ final fixtures of the season against Kilmarnock at Ibrox on Saturday, Aberdeen away on Tuesday and Hibernian away next Sunday.
The Dons lead Rangers and Hibs by three points as all three sides compete to finish the season as runners-up to Premiership champions Celtic, managed by Gerrard’s former Liverpool boss Brendan Rodgers.
And Rangers director of football Mark Allen said Gerrard “fully understands the demands that come with managing a club of this stature”.