Chelsea have announced that Guus Hiddink will take over as temporary coach until the end of the season, BBC reported.
The Premier League club have also revealed that the 62-year-old Dutchman will meet the players later this week.
"The club would like to take this opportunity to thank the Russian Football Union for their understanding and cooperation," said a statement.
Hiddink, who will continue to coach the Russian national side, replaces Luiz Felipe Scolari, who was axed on Monday.
The Dutchman is planning to attend Chelsea's FA Cup fifth round tie at Watford on Saturday with his first Premier League game at Aston Villa on 21 February.
The Blues currently lie fourth in the table, seven points adrift of leaders Manchester United, who have a game in hand.
Hiddink said before his appointment that he only intended to help out until the end of the season.
"It's a favour for a friend," said the former Netherlands, South Korea and Australia coach, who has close ties to Chelsea owner Roman Abramovich.
"Abramovich does so much for Russian football that I wanted to give something back. He called me personally."