The Czech-born tactician has signed a one-year deal with the Townsville-based club replacing Ian Ferguson who was at the helm during the club's first season in 2009/10.
Fury interim boss Archie Fraser said Straka's name stood out from the beginning and feel they have secured a quality manager.
''In terms of candidates, he was clearly a stand-out for us,'' Fraser said.
''Once his CV came through he was very quickly on our short-list and, really, was pretty much from the start our No. 1 candidate.
''You see his background, what he's played and what he's coached, clearly he's not a coach on the way down, it's just the right timing for him from a life point of view.''
Straka has an extensive career as both a player and manager with his playing days highlighted by a long stint with Czech powerhouse Sparta Prague and spells in Germany with Borussia Monchengladbach and Hansa Rostock among others. He also made 35 appearances for the Czech national team, alongside Sydney FC coach Vitezslav Lavicka.
His coaching days have seen him in charge of a number of Czech clubs as well as the Czech national team along with stints in Austria, Slovakia and Greece.