"Chelsea Football Club is delighted to confirm Guus Hiddink will become temporary coach until the end of the season," a club statement said. [break]
"He is due to meet the players later this week.
"The club would like to take this opportunity to thank the Russian Football Union for their understanding and cooperation."
The Dutchman, who will remain in charge of the Russian national side, takes over from Luiz Felipe Scolari after the Brazilian was sacked as Chelsea´s manager on Monday.
Hiddink is now set to attend Chelsea´s FA Cup tie against Watford on Saturday with a watching brief, with his first game in charge the league match away to Aston Villa - the side that have leapfrogged the Blues into third place in the table - on February 21.
The 62-year-old, who knows Chelsea´s billionaire owner Roman Abramovich well from his time with Russia , could yet become a permanent fixture at the west London club.
But Hiddink- who in 2002 stunningly steered unfancied co-hosts South Korea to the semi-finals of the World Cup - has repeatedly insisted he remains committed to taking Russia to the 2010 finals in South Africa.
And he told Sky Sports News on Wednesday "It (the Chelsea job) is for the period until the end of the English season, which is in May.
"There will be no damage for the Russian national team. We are focused now and in the future on the Russian team," added Hiddink, in charge of Dutch side PSV Eindhoven when he took Australia to the 2006 World Cup finals.
Russia only have two World Cup qualifiers between now and the end of the English season and neither of those - against Azerbaijan on March 28 and away to Liechtenstein on April 1 - clash with the Premier League programme.
However, on March 21 Chelsea take on London rivals Tottenham in a league match and three days after the Liechtenstein clash the Blues face Newcastle.
Scolari, who guided Brazil to World Cup glory in 2002, was sacked after Chelsea had slipped down the table to fourth place in the table and seven points behind Premier League leaders Manchester United.
Chelsea captain John Terry suggested Tuesday a revolt by some Blues players had led to Scolari´s dismissal, saying the Brazilian could count on the support of "just two or three players" at Stamford Bridge.
Assistant manager Ray Wilkins, a former Chelsea captain, was put in caretaker charge after Scolari was sacked and now seems set to pick the side for the Cup tie against Watford.
As well as Hiddink, currently in Turkey with the Russian national side, others linked with the Chelsea job on a long-term basis include AC Milan manager Carlo Ancelotti and former Barcelona boss Frank Rijkaard.
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