Aresco will start his new job in early September.
He joined CBS in 1996 and managed the network's college programming, including negotiating the contract with the NCAA for the men's basketball tournament.
Aresco will replace John Marinatto, who left in May after nearly three years on the job. Joe Bailey had been the interim commissioner.
Aresco joins the conference as it adjusts to the loss of West Virginia this year and readies for the departure of Syracuse and Pittsburgh next year. Temple joins the league for football this fall and become a full member next year. Boise State and San Diego State were added as football-only members while Memphis, Central Florida, Houston and SMU will become full members next year. Navy will also join for football in 2015.