And the 39-year-old will be joined on David Moyes' new-look backroom team by his former United team-mate Phil Neville.
Veteran Giggs will be taking his coaching badges this summer and hopes his experience can help the squad.
He said, "It's a great privilege to be appointed a player-coach".
"I hope I will be able to bring my experience to bear, having been both a player and part of the Manchester United family for so long.
Similarly, Neville has stalled when offered several coaching opportunities this summer in the hope Moyes would lure him back to his boyhood club.
(with agency inputs)