Australia coach Dave Rennie (59) has been sacked with immediate effect and former England boss Eddie Jones (62) will lead the Wallabies at this year's World Cup in France, after signing on as the new head coach until 2027.
New Zealander Rennie was contracted until the end of this year's World Cup in France but has a winning record of only 38% since taking over after the last edition.
Jones, who led the Wallabies to the 2003 World Cup final in his previous stint as Australia coach and was sacked by England in December, will also oversee the women's national team.
"It is a major coup for Australian rugby to have the best coach in the world return home to coach the iconic Wallabies and to oversee the Wallaroos programme," said Rugby Australia chairman Hamish McLennan.
"Eddie's deep understanding of our rugby system and knowledge of our player group and pathways will lift the team to the next level."
