His appointment comes in the wake of the sacking of Domenico Tedesco as the head coach of the cub.
The Royal blues have suffered a poor run of results in the Bundesliga and Tuesdays humiliating 7-0 UEFA Champions League defeat in the hands of Manchester City put the icing on the cake for the former coach.
Schalke 04 confirmed Gerald Asamoah's appointment as the new manager on Saturday and he will be assisted by Huub Stevens and Mike Büskens.
Gerald Asamoah played for the Blues from 1999 to 2010, so he would be expected to have a warm reception at the club he established himself as a hero.
Asamoah represented Germany at both the 2002 and the 2006 FIFA World Cups staged in Korea/Japan and Germany, respectively.