It had been reported Juve had initially targeted their former coach Marcello Lippi, while former striker Gianluca Vialli was also believed to be in the frame.

But the former Chelsea manager, who resigned as Parma coach after saving them from Serie A relegation and had been strongly linked with Manchester City, has signed a three-year contract to coach the Bianconeri.

Ranieri said: "This is a beautiful, difficult and electrifying challenge.

"It is a great opportunity for me and there's a lot of work to do in order to recover Juve's standing."

He continued: "I have the possibility to return Juve to where they belong and it is an electrifying challenge which I don't fear.

"It is an ambitious project but I am certain that we will do well and the fans should stay calm. We will make them proud of the team in Italy and then in Europe."

The Turin giants were demoted prior to last season to Serie B for the first time in the club's history following a match-fixing scandal, and the pressure will be on the 55-year-old to restore them to the top of Serie A.

The Juventus hierarchy are certain they have appointed the right man to lead the club on their return to Serie A.

An earlier statement on www.juventus.com read: "Claudio Ranieri have signed a contract which will see him tied to the club from July 1, 2007 to June 30, 2010.

"For Juventus, this is the best possible choice fully in line with the company's objectives and tradition.

"Ranieri is a man of great experience and international vision. He is able to carry out the sporting project approved by the administrative council."

Juve last week clinched the Serie B title with a 2-0 win over Mantova to ensure an immediate return to the top flight.

Deschamps and the club decided to "amicably separate" just hours after the triumph, which came courtesy of goals from David Trezeguet and Pavel Nedved.

Juve promoted assistant coach Giancarlo Corradini to lead the first team until the end of the season.

Ranieri started his managerial career with Pozzuoli-based Campania in 1987 before making his name with Cagliari by getting the club promoted to the top flight.

After further spells in his homeland with Napoli and Fiorentina, the Rome-born tactician tried his luck in Spain and enjoyed a two-year stint at the Valencia helm during which time he won the 1997 Copa del Rey and guided the club into the Champions League.

A brief period at Atletico Madrid followed before Ranieri headed to England to join Chelsea in 2000.

Heavily backed in the transfer market at Stamford Bridge, particularly after the 2003 arrival of billionaire owner Roman Abramovich, 'Tinkerman' Ranieri ultimately failed to deliver on the pitch and was replaced by Jose Mourinho in May 2004.

Ranieri was out of work for just over a week before returning to Valencia, although his three-year contract with Los Che proved insignificant when he was sacked the following February with the club in sixth spot and out of the Champions League.

He took up the reins at Parma in February 2007 after two years out of work, and successfully helped the club retain their top-flight status before quitting and then taking up the Juve post.

For more soccer news from around the globe visit Soccer365