Valencia have announced the appointment of Mauricio Pellegrino as their new coach.
Former Valencia defender Pellegrino, 40, has agreed a two-year deal and will take charge from next season. He had previously worked as assistant manager to Rafael Benitez at Liverpool and Inter Milan.
Club president Manuel Llorente told the club's official website: "The board have signed and ratified the agreement reached this past Friday with Mauricio Pellegrini, who will be the first-team manager for the next two seasons."
A Valencia spokesman had earlier revealed an approach had been made for Andre Villas-Boas but that the Portuguese had accepted a job elsewhere.
Pellegrino replaces Unai Emery, who will leave the club when his contract expires this summer after four years in charge.
Valencia have secured third place in La Liga this season for the third time in succession and also reached the Copa del Rey and Europa League semi-finals.