The 53-year-old former Tottenham manager, sacked from the White Hart Lane post in October 2007, returned to work in his homeland earlier this week after a season with German side Hamburg and was officially presented as Marco van Basten's successor in Amsterdam this afternoon.

Jol has penned a three-year contract and is relishing the opportunity of restoring Ajax to their former glory.

"Ajax always sets the tone in Holland and that must happen in the future too," he said.

"Ajax hasn't been champion now for five years. Prizes need to be won. That might be not so easy, but with the background and the means that Ajax have it is a nice challenge, but not impossible.

"It is necessary that we play in the top, we must in any case play for the prizes. Now it is also needed that we, as fast as possible, help the players that we have to become a team.

"In the short term there will be a top team again in Amsterdam."

Hamburg will not demand compensation from Ajax, concluding after the Dutch club's announcement on Tuesday that "it would be for the best if we went our separate ways" despite Jol having a year left on his contract.

He guided HSV to a fifth-place finish in the recently-completed Bundesliga campaign, and with it a place in the Europa League, and looks back fondly on his year in Germany.

"It's with pain in my heart that I left them. But when Ajax come, the best club in Holland, you must act," he said.

"I worked at the top in England, in Germany and now in Holland. Two weeks ago I did not expect that I would be Ajax manager as of today.

"Ajax wanted a five-year contract, together with chairman Rik van den Boog we made that three years. I see the challenge, I had to take the decision and I did it. I don't look back (to Hamburg), I only look forward."

Like Hamburg, Ajax will also compete in the inaugural Europa League next term after finishing third in the Eredivisie.

The failure to reach the Champions League prompted Van Basten to step down, claiming he was not the man to take the club forward after an investment of over 30 million euros last summer proved fruitless.

Jol will also have money to spend, and has vowed to use it wisely.

"We will try to improve the squad, to make it stronger," he said.

"That can be with the current players, but maybe also with two or three new players. The magical word is development. Ajax have enough potential for that.

"When you get the opportunity, a club like Ajax must invest. We won't hesitate to do it."

Jol will have Leonardo at his disposal next term after the striker made a U-turn over his decision to leave the club, admitting he would be happy to stay and fight for his place under the new head coach.

"Leonardo... I'm still mad at him because he scored that goal in Hamburg during the UEFA Cup game," joked Jol today.

"I hope that he stays here because I still have a bone to pick with him!"

Jol will be assisted by Danny Blind, who was technical director during the Van Basten reign.

"That was not a condition, but I find the fact that Danny is appointed as my assistant very important," said Jol.

"That way of working felt good in England. Danny is a man who knows everyone, that fits into the picture that the Ajax board wanted.

"For me it was also important that Danny and Rik found it important that I would say yes. In the concept that I have in mind it's important to do as much as we can with the youth and the talents."