The 48-year-old returns to the Foxes having signed a contract that lasts until the end of the 2013/2014 season, replacing the sacked Sven-Goran Eriksson, after a compensation package was agreed with npower Championship rivals Hull.
He will be joined at the King Power Stadium by assistant managers Craig Shakespeare and Steve Walsh.
During his last spell, Pearson steered Leicester to the League One title in 2009 before they reached the 2010 Championship play-off semi-finals, losing to Cardiff on penalties.
Pearson quit for Hull in June 2010.
THE TOON "Stocking Filler" BOOK FOR XMAS -
"MAGPIES IN EUROPE"
SIGNED COPY - FREE POST - FOR ANYONE WHO ORDERS BEFORE CHRISTMAS!
Send a cheque for £9.95 - payable to K.Fletcher - to:
Magpies In Europe
5 Dunelm
Sacriston
Durham DH7 6NU
£9.99 Available From:
NEWCASTLE-UPON-TYNE
M&M News; 140 Northumberland St.
One Stop News; 44 Blackett St.
Blackwell Bookshop; 141 Percy St.
The Back Page; 56 St Andrews St.
Gallowgate News, Percy St.
CHESTER-LE-STREET
The Bookcase; 131 Front St
SPENNYMOOR
The Flower Shop, Front St.
ONLINE:
http://www.lulu.com/browse/search.php?fListingClass=0&fSearch=Magpies+in+Europe
"Magpies In Europe" is available NOW! It features match reports and individual features from Toon fans on the 60 'away' trips Newcastle have made in Europe. Sports Journalist Richie Everson: "At last a book that the fabulous Newcastle United fans can relate to. It's informative, all the facts and figures are there, plus the 120 match reports from all the fixtures ... but it is the articles by the supporters that amazed me. "I went to many of those games, and this is the only book I can honestly say 'hits the nail on the head'! "Yes we know the results and the scorers, but some of the facts in this book had me so wrapped up in it I couldn't put it down. "Was Benny Arentoft cup-tied when he played in the final? Big Wyn and his battle with John McGrath; McFaul scoring a penalty when the crowd had gone home; the trouble in Palermo; it is all amazing stuff. "I would honestly give this book 10 out of 10." The book is available NOW from THE BACK PAGE!