The Swede has been charged with ensuring the Elephants make an "honourable" impression on the tournament in South Africa.
Eriksson led the Three Lions to successive World Cup quarter-finals in 2002 and 2006 before leaving his post.
The Swede had most recently been employed as the director of football at Notts County before leaving in February following the collapse of their ambitions project to reach the Premier League.
Ivory Coast had been on the lookout for a new coach after parting company with Vahid Halilhodzic following a disappointing African Cup of Nations campaign.
"He's an experienced coach who has proved himself," read a statement from the country's football federation.
"His objective is to ensure an honourable participation at the upcoming World Cup."
The ex-Manchester City manager's last international experience came during an unsuccessful nine-month spell at the helm of Mexico which was ended by the sack in February 2009.
Source: DSG
