Shevchenko recently joined the Ukraine coaching staff and the former AC Milan superstar will be working as the new international assistant to head coach Mykhailo Fomenko.
The 39-year-old is grateful of taking over the role and has stated that he will look to use what he has learnt from working with the likes of Ancelotti and Mourinho in the past.
He said: "I want to thank our national team head coach for the chance he gave me.
"Today I am coming back to top-level football after a four-year break and I will do my best to repay the trust.
"Who do I believe to be the EURO 2016 favourites? Ukraine.
"Working with Valeriy Lobanovskiy, Carlo Ancelotti and José Mourinho is a great experience and I hope to use it in the best possible way."