Leicester City have confirmed the appointment Sven Goran Eriksson as the club's new manager.
Eriksson was in the stands on Saturday to watch the Championship club move off the bottom of the table thanks to a 3-1 victory over Scunthorpe United at the Walkers Stadium.
"I have a contract for two years at least," Eriksson told Sky Sports News.
"I'm going to stay, of course I'm going to stay because it's a big project and a big challenge, and I like it. I have no intention to leave."
He also believes that a two-year target to take Leicester back into the top flight is a realistic ambition.
He added: "I think it's realistic because they're wealthy owners and they want to have the club in the Premier League.
"The stadium is there, the supporters are there, the training ground is there, so why not? It's going to be a big go and I like to try. I think it's possible."
Eriksson has regularly been linked with Premier League jobs, but the 62-year-old declined to comment on rumours he was recently interviewed for the Aston Villa position.
"For sure I had offers on the table and it's always like that," continued Eriksson.
"But if I was interviewed for that job or another job, I will never comment on rumours.
"Always I am one of the names more or less, and I'm always happy about that, but what's true and what's not true I think you should keep to yourself.
"For now, I'm extremely happy to be where I am and I look forward to starting work with the players from Monday."
Leicester owner Aiyawatt Raksriaksorn said: "We are delighted to welcome Sven to Leicester City Football Club. This is a great day for everyone associated with the club and we are very proud to have Sven as our new manager.
"In Sven, we have a world-class leader for our team and for our club. His record within the game is tremendous and he has the ability, knowledge and pedigree to take this club forward and in to the Premier League."
Foxes chairman Milan Mandaric added: "This is another example of the great support shown by our new owners. Their ambition for the club has been emphasised with this landmark appointment of Sven as the new manager."