The 50-year-old Scot will take over the managerial reigns from 1 July and he comes with a glowing endorsement from his predecessor.
"When we discussed the candidates that we felt had the right attributes we unanimously agreed on David Moyes," said Sir Alex in a club statement on Thursday.
"David is a man of great integrity with a strong work ethic. I've admired his work for a long time and approached him as far back as 1998 to discuss the position of assistant manager here.
"He was a young man then at the start of his career and has since gone on to do a magnificent job at Everton. There is no question he has all the qualities we expect of a manager at this club.”
Click on the video above to watch MUTV's Moyes factfile.