The 59-year-old former Falkirk, Dundee, Hibernian, Brechin City and Clyde boss left Morton in the summer and takes over from Stevie Aitken.
Chairman John Steele told the club website: “Jim’s achievements as a manager, most recently having managed Morton to consecutive comfortable finishes in the Championship, made him the unanimous first choice of our board.
“He has been anxious to get back into football since leaving Morton at the end of last season and we are delighted to give him that opportunity.”
