The former England manager will take up the role with immediate effect following talks about taking a senior role at Meadow Lane.

The 61-year-old Swede will be joined at Notts County by long-term assistant Tord Grip, who will fill the role of general advisor.

And the club's new executive chairman, Peter Trembling, hopes Eriksson's appointment will help them achieve their aim of long-term success.

"One key element to our future success will be our ability to attract outstanding talent to work with us in all areas of the club," Trembling told the club's official website, www.nottscountyfc.co.uk.

"Today we have taken the first major step in building our team of experienced and committed people by appointing Sven and Tord.

"Sven and his team join us with an unrivalled football pedigree. Their knowledge of the game and contacts throughout the football world will significantly enhance Notts County's prospects.

"Sven shares our vision, and to attract someone of his calibre is testament to the ambition that we all share for Notts County.

"This is a great day for everyone associated with the club."

The oldest professional football club in the world was taken over by a Middle Eastern group, Munto Finance, last month.

The new owners announced their ambition to get the club back into the Championship within five years when they completed their takeover.

Eriksson will look after the club's youth academy as well as player development, transfer negotiations and building overseas links.

And the Swede is excited by the new challenge.

"I am particularly attracted to this role and the unique opportunity to help build a club over the longer term," he said.

"I will be responsible for all aspects of the football side of the club and in line with the aspirations of the new owners, wish to build the club at the heart of the community.

"We hope to leave a long and lasting legacy for Notts County and its fans."

The appointment is an astonishing twist in the tale of Eriksson, who has been one of the leading managers in football over the last two decades.

After achieving the league and cup double in three different countries - Sweden, Portugal and Italy - he left Lazio to become England's first foreign manager.

Quarter-final exits in the 2002 World Cup and Euro 2004 followed, and he had already announced his departure before England's disappointing 2006 World Cup campaign, again ended in the last eight.

His single season as Manchester City manager, 2007-08, should be seen as a success but he parted company with the club, who were poised for a Middle Eastern takeover of their own, and was announced as the new head coach of Mexico in June last year.

That appointment turned out to be the least successful of his career and several disappointing results in their World Cup qualifying campaign led to his sacking.