The Guardian – Fulham appointed Claudio Ranieri as manager after he removed Slavisa Jokanovic.
Ranieri, who led Leicester to the Premier League title in 2016 and managed Chelsea, takes over the club's bottom line in the Premier League.
Jokanovic was ejected after scoring five points in 12 games this season. He led Fulham to promotion last season.
Fulham had a "multi-year contract" with Ranieri and their owner, Shahid Khan, said: "Claudio is not at risk in the Premier League and is now ready for what we need in Fulham.
"Working with Leicester City is literally legendary, and looking at Claudio's experience in Chelsea and a big club across Europe, it's clear that he has a special football player in Fulham football club."
Ranieri most recently led Nantes, and in May of last season the club was in ninth place. He was dismissed by Leicester in February 2017.
Ranieri said, "I am honored to lead Fulham, a fantastic club with tradition and history, accepting Khan's welcome and opportunity."
"Fulham's goal should not be to simply survive in the Premier League, always be a difficult opponent and expect to succeed.
"I know that Fulham has excellent talent and is against the position on the table, we know that our team has the ability to perform better, and we will work immediately as we prepare Southampton at the cottage."