Lockwood, who was a youth player at Leeds United, played over 150 times for Rovers between 2006 and 2012.
He chalked up just under 400 professional appearances throughout his career and spent five years at Yeovil Town before moving to South Yorkshire.
The 38-year-old came off the bench in 2008 when Doncaster beat Leeds United 1-0 in the League One play-off Final at Wembley.
He had two spells at Guiseley as a player, either side of a season with Oldham Athletic, before he was named manager at Nethermoor Park in 2016.
“I’m delighted to be part of the club and it’s an exciting time to be building foundations for the club to grow into something we as a city can be proud of and call our own,” said Lockwood who was born and raised in Wakefield.
“There is a tremendous amount of work to be done and it’s exciting to think of the potential to unite the city and surrounding areas of all age groups.
“We will be looking to create an environment where players have the opportunity to grow and enjoy being part of what should be an interesting journey the club has in front of it.
“The opportunity to become part of my home city club is great for me.
“The team and I will be doing our upmost to create a platform for local talent to progress and showcase themselves.”
Lockwood will take over from former Sheffield Wednesday goalkeeper Chris Turner who has been appointed director of football.
Turner said: “It gives me great pleasure in welcoming Adam Lockwood to the club. We are delighted he has agreed to take on the position of manager with us and we wish him every success.”