Mauricio Pellegrino will replace Unai Emery next season at Valencia, the club announced Tuesday.
Emery helped Valencia finish third in La Liga to secure Champions League play, but will step down after four years in charge at the end of the season.
The 40-year-old Pellegrino agreed to a two-year deal to take over Valencia, as he returns to coach the club he made 138 La Liga appearances for as a player.
Pellegrino reached the Champions League final twice with Valencia, losing both in 2000 and 2001. Valencia won both the UEFA Cup and UEFA Super Cup during his playing career.
Capped three times for Argentina in 1997, Pellegrino also played for Barcelona and Liverpool during his club career.