"It's a great opportunity for myself," said Ferguson. "When I spoke to the board I got a great feeling about it. I jumped at it really."

A club statement said he was the "stand out candidate" after an "extensive recruitment process".

Ferguson, who replaces the sacked Billy Dodds, took his first steps in management with Forest Green Rovers in January.

However, he moved on in July following just one win in 18 games in charge, after which they were relegated from England's League One.

Ferguson, who started his career with Dundee United before moving to Rangers, has not been involved with a Scottish club since departing Ibrox for Everton in 1994.

He told BBC Scotland: "It's been a long time since I've been in in Scotland, but football is football so what's the difference?

"I've never even thought about it really. I came north because the job opportunity came up and I think it's a great chance to get back into the game. The directors have big ambitions and so do I. So that's the main reason why I came.

"I've coached at an incredibly high level, I've been a manager and I've done all the hard yards."

Having had two spells as a player with Everton, Ferguson returned to the Premier League club as a coach under fellow Scot David Moyes and went on to be caretaker boss twice as well as assistant manager to Carlo Ancelotti and Rafa Benitez. He left Goodison Park in July last year.

Caley Thistle director of football John Robertson was in caretaker charge for his side's first game without Dodds on Saturday, when they lost 1-0 to Dundee United.

The Highlanders, who travel to Arbroath this weekend, have one point from six league matches and have scored just three goals.

"We have a good squad and the reason they are here is because they are good players," added Ferguson. "It is just about getting the best out of them now.

"The priority is to get away from the bottom of the league and to get a feel-good factor again. We build from there."