The Bolton-born former Rochdale and Barnsley boss will be joined in the dugout by fellow Boltonian David Flitcroft who will take the role of the club’s Assistant Manager.
Having previously worked together, the pair will be reunited at the University of Bolton Stadium.
Speaking exclusively with bwfc.co.uk, Hill said:
‘It is an absolute privilege to become the manager of such a big club like Bolton Wanderers.’
‘David and I are extremely grateful for the opportunity to manage our hometown club.’
‘My first job is to recruit a number of players ahead of Monday’s deadline.’
‘The young lads have done really well and worn their heart on their sleeve and we’re not looking to replace them but they need help and we need to strengthen the squad.’
