Ian Holloway has returned to QPR for a second spell as manager.
The 53-year-old, who also made more than 150 appearances as a player at Loftus Road, has agreed a two-and-a-half-year contract with the west London club.
He replaces Jimmy Floyd Hasselbaink, who was sacked last week with Rangers lying 17th in the Championship.
Holloway told www.qpr.co.uk: "I feel honoured, privileged and proud. It's a huge moment for me and I am delighted to be back here.
"I feel this is the right time for me. I feel like I'm back home now and I can't wait to get started.
"I care deeply for this football club and I want to help Les (Ferdinand), (chief executive) Lee (Hoos) and our wonderful owners create something we can all be proud of.
"Does anyone know this club better than me? Probably not. Has it changed much? Maybe. But I know what it means to everyone out there.
"People would die for this club - and I want our players to show that in their performance, and our fans to show them that they care about the players as much as I will do as their manager.
"My job is to try and help this squad improve and create an environment that the players can succeed in, especially at Loftus Road, where the fans love to see players express themselves.
"I want to try and galvanise this squad and make my owners smile. Hopefully this is the start of something here."
QPR have sacked manager Jimmy Floyd Hasselbaink.
The 44-year-old Dutchman has left the club following a poor run of form which has left them in 17th place in the Championship. Saturday's 1-1 draw at Nottingham Forest was not enough to save his job.
Hasselbaink celebrated wildly following Idrissa Sylla's late equaliser at the City Ground, insisting afterwards his actions had nothing to do with speculation linking Tim Sherwood with his job.
But hours later Rangers announced in a statement on their website that they had "parted company" with the former Burton boss.
The statement added: "The club appreciates Jimmy's efforts during his time in charge and wishes him all the best for the future.
"Owing to the international break, the first-team squad will return to training on Wednesday. A further update regarding the club's managerial situation will be made in due course."
QPR have reminded Jimmy Floyd Hasselbaink "of his roles and responsibilities" after concluding an investigation into claims made by the Telegraph in September.
The newspaper secretly filmed Hasselbaink appearing to negotiate a fee to work for a fictitious agency representing footballers around the globe.
Despite Hasselbaink insisting he had nothing to hide, the footage hinted at a potential conflict of interests.
QPR and Hasselbaink's lawyers requested access to the full video but club claims that the Telegraph failed to provide any damning evidence.
A statement on QPR's website this morning read:
The club can confirm that our internal investigation has now ended concerning The Telegraph's reporting on inferences made on September 28th relating to QPR manager Jimmy Floyd Hasselbaink.
Throughout the comprehensive investigation, the club contacted and communicated with all the major parties involved, including The Telegraph, who failed to provide the club with the information previously requested. Despite a number of requests from both the club and Jimmy Floyd Hasselbaink's legal team for the information relating to the inferences made on September 28th, including video footage and a full transcript of the discussions that took place, nothing has been forthcoming.
As a result, and in the absence of any further evidence, the Board fully back QPR manager Jimmy Floyd Hasselbaink and his explanations relating to these inferences. Jimmy Floyd Hasselbaink openly admitted he was naive and, as such, has been reminded of his roles and responsibilities as manager of Queens Park Rangers Football Club.
He remains fully focused on his job as QPR manager, and he does so with the Board's unanimous support.
Idrissa Sylla headed home a late winner to help QPR earn a 2-1 victory over near neighbours Fulham and ensure Jimmy Floyd Hasselbaink ended a difficult week on high.
Manager Hasselbaink had been caught up in the Daily Telegraph's investigation into corruption in football but took his place in the dugout and saw his QPR side win at Craven Cottage for the first time since 1980.
And he rode his luck on the way as Fulham missed two penalties and a host of chances before substitute Sylla headed home in the 87th minute of this west London derby. Conor Washington's first league goal for QPR had opened the scoring before Tim Ream levelled up, only for Sylla to win it.
QPR manager Jimmy Floyd Hasselbaink has admitted that Sandro is giving him a "very difficult" but welcome selection dilemma ahead of Saturday's Championship game against Birmingham.
The Brazilian scored in the Hoops' 2-1 defeat to Sunderland in the EFL Cup on Wednesday, his third goal of the season, but he is yet to play in the Championship.
Sandro saw his move to Sporting Lisbon fall through in August, after he failed a medical, but Hasselbaink has been impressed with his commitment to the London club.
Sandro has got quality, we all know that. I have said after the window to Sandro that he will be judged and he will be treated like (the others). He wanted to go but he is still here.
He has conducted himself really well in training and he is pushing himself forward for a starting position. He played ever so well (against Sunderland), he was a leader, he was one of a number of players who had the right voice but also at the end he ran a little bit out of steam because he does not have enough games under his belt.
You can see how much work he has done in the first half and his intensity, how high that was. Second half that dropped a little bit but still he played well and I was very happy with his performance. I asked him to give me a very difficult selection for Saturday and that is what he has done.
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QPR director of football Les Ferdinand has poured cold water on speculation that manager Jimmy Floyd Hasselbaink might be replaced by Tony Pulis.
Media reports have suggested that Pulis could be offered the opportunity to take over at the Championship outfit if he leaves West Brom.
Pulis' future with the Baggies has come under scrutiny in recent weeks and the 58-year-old Welshman was seen sitting next to Ferdinand during QPR's 6-0 home defeat to Newcastle on Tuesday.
However, Ferdinand has warned against reading anything into that, and insists Rangers are not looking to replace Hasselbaink.
Ferdinand said: "Tony Pulis came to the game the other night, which is a normal thing for a manager to do when his team aren't playing. I saw him and sat next to him. That's it.
"The result on Tuesday was obviously unacceptable but I can categorically say we are not looking to change manager and are not considering anyone else."
QPR slumped to 14th in the Championship following their thrashing at the hands of Newcastle - the Hoops' heaviest-ever home league defeat.
QPR have signed Anderlecht striker Idrissa Sylla for an undisclosed fee.
The 25-year-old, a Guinea international, has joined Rangers on a three-year deal and becomes boss Jimmy Floyd Hasselbaink's sixth summer signing.
Hasselbaink told the club's official website: "This is very good business for the club. He is very good in the air, and scores quite a lot of goals with his head. He is technically very good, and we feel he will add to the squad.
"We also feel there is a lot of improvement in him. He can get better and stronger."
Sylla added: "This is a very exciting move for me. I have always dreamt about playing football in England and the opportunity to join QPR was something that really appealed to me. I am pleased to be here and can't wait to get started."
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