Lee Miller is "delighted to be home" after leaving Livingston to become part of Falkirk's interim coaching team alongside David McCracken.
The duo replace the sacked Ray McKinnon and take charge during the League One club's "extensive recruitment process" to appoint a full-time manager.
Former Falkirk boss Alex Totten will provide assistance in an advisory role.
"The opportunity was one I couldn't refuse given how much the club means to me," Miller, 36, said.
Miller played more than 150 games for Falkirk in two spells. Former captain McCracken, who leaves his role as Peterhead first-team coach, racked up 115 Falkirk appearances in four years' service from 2013.
McKinnon was sacked on Saturday with the pre-season title favourites fourth in League One.
"We all know the potential here and where this club should be, it's up to us now to get results to help realise that.," McCracken, 38, said.