Giggs, who signed a one-year contract extension last season, has been studying for his coaching badges and the 39-year-old is due to acquire the top-level UEFA Pro Licence next year.
“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,” said Giggs, who will work alongside new United manager David Moyes.
“It’s no secret that I have been taking my qualifications and I see this as the first step in my future career. I'm really looking forward to working alongside David and the team.”
Moyes, who recently succeeded Alex Ferguson as manager, said Giggs’ long career gave him the perfect platform to step into coaching.
“I’m delighted that Ryan has accepted the chance to become player-coach,” said the Scot. “His success and ability to adapt his game over a number of years gives him an unrivalled perspective on the modern game. His career is an example to any aspiring young player and I’m sure that both he and the players will benefit from his new role.”
Neville takes to coaching too
Meanwhile, former player Phil Neville, 36, will also take up a similar role as Giggs at United. Neville follows Moyes from Everton, having retired from playing last season.
The former England international began his career with United before joining Everton in 2005 and said it was impossible to turn down the opportunity to return to his formative club.
“When I retired from football, I knew that I wanted to continue in the game. It’s something that I have been preparing for over the last few years,” he said.
“So when David called to give me this opportunity, I couldn’t resist. I gave my all when I played for Everton but it is no secret that this club is in my heart. “I’ve really enjoyed working with David and his staff as a player and I think that, together with Ryan, we can make a real contribution to Manchester United."