He replaces Jaime Lozano, who was dropped last week after rejecting a proposal by the football federation that included a demotion for the international tournament, which Mexico will co-host.
"We're very pleased to announce the arrival of Javier 'El Vasco' Aguirre as technical director of the national team," federation official Duilio Davino said in a video published on social media.
Legendary former player Rafael Marquez will be Aguirre's assistant, in a further effort to boost Mexico's chances at the 2026 World Cup, which it will jointly stage with the United States and Canada.
Aguirre, 65, coached Mexico at the 2002 and 2010 World Cups, where they reached the second round on both occasions.
He has also coached the Japanese and Egyptian national teams, as well as a string of Spanish clubs including Atletico Madrid, Espanyol and Real Mallorca.
The Mexican federation said last week that it had offered a new contract to Lozano through 2030 that included him working under a "more experienced" coach from 2024-2026.
Under the deal, Lozano would have returned as head coach at some point between 2026 and 2030, but the federation said that he had decided to leave instead.
