The former Bournemouth boss has inked a two-year deal at Anfield and replaces Dutchman Slot, who was sacked a year after guiding Liverpool to the Premier League title.
The hiring process was led by Liverpool sporting director Richard Hughes, who appointed Iraola at Bournemouth in 2023.
“Really excited, really excited,” Iraola said. “Because obviously you know about Liverpool, you know that it’s a big club, a massive club, one of the biggest in the world.
“But feeling inside and understanding a little bit more of this club, I always thought it’s a special club.
“You don’t need a lot of things to get attracted by Liverpool. Liverpool is Liverpool.
“But obviously the atmosphere, the supporters, the club, the players, the chance for me to coach top-level players, the chance to fight for titles. I think it cannot be more attractive than this. It’s difficult to find it. So, really excited to start.”
Iraola became available after leaving Bournemouth at the end of a superb season with the Cherries upon the expiry of his contract.
The Spaniard delivered European football for the first time in Bournemouth's 127-year history with a sixth-place finish and a spot in the Europa League.
They finished just one position and three points behind Liverpool and ended the campaign with an 18-game unbeaten run.
Iraola began his career in management in Cyprus with AEK Larnaca and had spells in his native Spain with Mirandes and Rayo Vallecano before joining Bournemouth.
Iraola garnered praise for implementing a high-pressure and progressive style of football, centred around attacking swiftly.
That approach would see him fit in well at Liverpool, who were renowned for their high-octane brand of football under Jurgen Klopp, a style that great Mohamed Salah urged the Merseyside club to revive before his departure.
Iraola now faces the difficult task of resuscitating a side that stumbled to a fifth-placed finish last season, while also having to contend with the absence of Salah, who had been Liverpool's main source of goals for the better part of the past decade.
The appointment also represents a significant step up for Iraola, with the Liverpool job being by far the most high-profile of his managerial career and serving as a litmus test of his credentials.
