Ferguson, a former imposing forward for Dundee United and Newcastle United, has previously managed Forest Green Rovers and Inverness Caledonian Thistle.
His coaching experience also includes working as Everton’s assistant manager under respected coaches Carlo Ancelotti and Rafael Benitez, as well as serving twice as the club’s caretaker manager.
Despite substantial funding from owner Ali Pour and a recent move to a full-time professional structure, Glentoran have found it difficult to compete for the championship.
After spending two years away from the sport, Ferguson said he immediately embraced the chance to return and believes the club will provide the financial support he needs.
“This is an excellent opportunity for me to return to the game,” he said.
“I have been away from football for two years and was unsure whether I would come back or pursue television work, but this opportunity was too good to overlook.
“The club has clear ambitions. I spoke with the owner, Ali [Pour], and he wants to restore Glentoran to its former standing.
“I understand they have not lifted the title for 17 years. I connected well with him when we met, and I expect he will continue supporting us after investing in the club for several years.”
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