Kingsbury, 33, will succeed Tommy Tuberville, who resigned last week to coach at the University of Cincinnati.
Kingsbury, who played behind center for the Red Raiders from 1998-2002, comes from Texas A&M, where he was offensive coordinator and quarterbacks coach for Heisman Trophy winner Johnny Manziel.
He takes over a program that went 7-5 this season and will play Minnesota in the Dec. 28 Meineke Car Care Bowl of Texas.
Susan Sarandon 'very excited' about daughter's pregnancy
Dennis Rodman pledges to end trips to North Korea