Tracy was the head speed coach of the U.S. women skiers from 1997-2004 and has worked five Olympics and eight World Championships in his coaching career.
He replaces Patrick Riml who retired after the 2008 season. The U.S. women were very successful with Riml as coach, including the 2008 FIA World Cup overall and downhill titles won by Lindsey Vonn.
"I'm extremely excited and honored to come back when the team is doing so well," Tracy said in a U.S. Ski Team release. "I'm humbled by the support from the staff in wanting me to come back. There are going to be some big shoes to fill.
"My goal is to support everyone and just keep the ball rolling and to get the technical side going as well as the speed side. We want to go into Vancouver with a lot of excitement and be ready to win."
The 2010 Winter Olympics are scheduled for Vancouver, British Columbia.