Former Real Madrid and Spain midfielder Michel has been appointed new coach of Olympiacos, the Greek champions and current league leaders announced on Sunday.
The team said that the former Sevilla coach will be officially presented on Monday.
He reportedly signed an 18-month deal bringing him €1 million annually.
Michel, 50, replaces interim coach Antonis Nikopolidis who sat in for a month following the firing of Leonardo Jardim.
Nikopolidis has been appointed Michel's assistant coach, a post he also held with Jardim.