Tottenham have appointed Tim Sherwood as their new head coach until the end of the 2014/15 season.
Sherwood was among the frontrunners for the job after being named interim manager of the north London club following the sacking of Andre-Villas Boas last week.
A statement on Spurs' official website on Monday evening said: "Following the departure of Andre Villas-Boas, the club can announce that Tim Sherwood has been appointed head coach with a contract to the end of the 2014/15 season."
Tottenham chairman Daniel Levy admitted he was loath to dispense with the services of Villas-Boas, but he has given his backing to Sherwood, who made nearly 100 appearances for the club as a midfielder from 1999 until 2003 and will be assisted by Chris Ramsey and former Spurs team-mates Les Ferdinand and Steffen Freund.
Levy told the club's official website: "We were extremely reluctant to make a change mid-season, but felt we had to do so in the club's best interests.
"We have a great squad and we owe them a head coach who will bring out the best in them and allow them to flourish and enjoy a strong, exciting finish to the season.
"We are in the fortunate position of having within our club a talented coach in Tim Sherwood.
"We believe Tim has both the knowledge and the drive to take the squad forward."
The decision to give Sherwood the chance to cut his teeth at one of the biggest clubs in England is sure to raise eyebrows, given several higher profile candidates were linked with the post.
Ajax boss Frank de Boer and former Real Madrid and Chelsea chief Guus Hiddink were flagged as possible contenders, while former Tottenham player and manager Glenn Hoddle made his interest clear.
Yet Sherwood made no secret of his desire to take the reins on a full-time basis, saying on Sunday: "I don't want it (the job) on a temporary basis. I want it for the long term."
His first match in charge ended with Tottenham crashing out of the Capital One Cup following a second home defeat to West Ham this season, but he bolstered his standing by leading the club to a 3-2 victory at Southampton in the Barclays Premier League on Sunday.
Emmanuel Adebayor was brought back for both matches after being frozen out this season under Villas-Boas, and Sherwood's decision has paid immediate dividends as the Togo striker scored against the Hammers before bagging two against Saints.
Sherwood will be expected to deliver success after the club spent over £100million in the summer transfer window, reinvesting the world-record transfer fee they received from Real Madrid for Gareth Bale.