The Manchester United legend has penned a three-year deal, according to Fabrizio Romano, with the Championship club.
Wayne Rooney has been named as the new manager of Plymouth Argyle Credit: Getty
Rooney was confirmed as the boss of The Pilgrims today, four months after he was sacked as Birmingham City manager.
The Premier League icon's time with Birmingham was catastrophic, winning only two of his 15 games in the dugout.
His 83-day stint at St Andrews went some way to cementing the club's fate of relegation at the end of the season.
When Rooney arrived at the club they sat in sixth place in the Championship but his terrible run of results, coupled with similar form from his replacement Tony Mowbray, saw the club tank to 22nd place.
But Rooney, 38, has been given another chance in the division by Plymouth - who narrowly avoided the drop themselves this season.
In an announcement on the official club website, Rooney said: "Taking this role at Plymouth Argyle feels like the perfect next step in my career – and I would like to thank the Chairman and Board for the faith they have shown in me.
“This is an opportunity to be part of an exciting project. I look forward to helping to build a squad of players to play expansive football – and to entertain the Green Army.
“I have experienced first-hand how talented the existing group of players is here – and also the incredible atmosphere at Home Park.
"The club is on an exciting long-term journey, with a progressive plan in place. I am grateful for the opportunity to be part of it.
“I can’t wait for the Championship season to start in August.”
The Home Park outfit had been searching for a new boss after sacking Ian Foster last month and have identified Rooney as their ideal candidate.
Plymouth chief Neil Dewsnip is understood to have been the driving force behind the deal, having worked with Rooney as a coach at Everton's academy.
SunSport understand that Sheffield United manager Paul Heckingbottom also held talks with Argyle over the vacancy.
While Plymouth had also been linked with ex-Hull boss Liam Rosenoir, who supposedly turned down the move to Home Park.
As well as his time with Birmingham, Rooney previously held the management roles at Derby County and MLS side D.C United, having played for both clubs during the twilight of his career.
Rooney's time in the States came to an end after he failed to take D.C United to the MLS play-off final - ultimately leaving by mutual consent.
And his time with Derby was clouded by ownership issues and financial breaches that led to multiple points deductions with the former striker at the helm.
As a player, Rooney amassed an incredible trophy cabinet - winning five Premier League titles, five domestic cups and the Champions League at Man Utd.
And while he will now have a busy summer ahead of himself preparing for the new season, Wazza will have to balance it with his media commitments.
The 120-time England international will be joining the BBC for their coverage of Euro 2024 this summer.
Rooney will head out to Germany with the likes of Gary Lineker, Joe Hart and Cesc Fabregas to cover the highly-anticipated tournament.
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