The 59-year-old had a brief spell as head coach of ADO Den Haag in Holland last season.
CSKA are the most successful side in Bulgaria though they finished runners up in the league last season and are coached by Bruno Akrapovic.
The Bulgarian side are currently competing in this season's Europa League but sit bottom of Group A having picked up one points from three games.
CSKA host Swiss side Young Boys on Thursday knowing defeat will knock them out of the competition.
Former striker Hristo Stoichkov, who played over 250 times for Barcelona over two separate spells in the 1990s, is among the club's shareholders.