Carlos Corberan takes job at Europa League club less than a month after Huddersfield Town departure
The Spaniard resigned as Huddersfield Town head coach last month but has not spent long out of the game, opting to join the Greek side who won their domestic title by a comfortable 19 points last term.
They qualified for the second round qualification phase of the Champions League but have dropped into Europa League qualifying after losing their two-legged tie to Maccabi Haifa last month.
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Hide AdCorberan led Huddersfield to the Championship play-off final last season as the Terriers lost 1-0 to Nottingham Forest at Wembley.
Forest owner Evangelos Marinakis also owns Olympiacos and has opted to put Corberan in charge after sacking Pedro Martins.
Jorge Alarcon, who was assistant coach at Huddersfield with Corberan, will join the Spaniard in the same capacity in Greece.