Stubbs said on the Hibs website: "To be given this opportunity with Hibernian is a great privilege and a real honour - it is a massive club with huge potential.
"I'm excited about the future here at Hibernian and what we can all achieve together at the club - this is the start of the journey.
"The Scottish Championship will be a tough division, but I'm confident that if we approach the challenge with enthusiasm, optimism and belief then we can achieve success.
No details of the length of his contract were given, with the club simply stating he would take charge of the team for the "forthcoming 2014-15 Scottish Championship season".
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