The Feyenoord boss arrives at Anfield in place of Jurgen Klopp, who took charge of his final game against Wolves on Sunday at the end of a successful nine-year stint.
Slot, who has signed a three-year contract, will start work at Liverpool on June 1st after a compensation deal worth around £9.4 million was reached with the Dutch side.
Slot garnered Liverpool's attention for his recent success with Feyenoord, which saw him win the Eredivisie last season and the Dutch Cup in April.
The 45-year-old also led them to the final of the Europa Conference League in 2022, where they finished runners-up.
"It is certainly not an easy decision to close the door behind you at a club where you have experienced so many wonderful moments and worked successfully with so many wonderful people," Slot told Feyenoord's official channels.
"But as a sportsman, an opportunity to become a head coach in the Premier League, at one of the biggest clubs in the world, is difficult to ignore.
"I am grateful to Feyenoord for their willingness to cooperate in this transition.
"I have thoroughly enjoyed my three years at Feyenoord and have felt very much at home from day one, both within the club and with the supporters."
Slot had previously courted interest from Tottenham and Chelsea but instead signed a new Feyenoord contract, although he is now set to embark on a new challenge in Merseyside.
His appointment comes less than 24 hours after Liverpool bid an emotional farewell to long-time boss Klopp, who said goodbye to Anfield at the conclusion of the Premier League season.
The German announced his departure in January this year after stating he was "running out of energy" in terms of managing at the top level.
During his speech, Klopp chanted Slot's name in a bid to get the fans behind the new man in the dugout.
Liverpool enjoyed a trophy-laden spell under the 56-year-old, winning the Champions League, Premier League, FA Cup and two League Cups.
