"This is a great day for Jacksonville and Jaguars fans everywhere," team owner Shad Khan said in a statement. "Urban Meyer is who we want and need, a leader, winner and champion who demands excellence and produces results.
"While Urban already enjoys a legacy in the game of football that few will ever match, his passion for the opportunity in front of him here in Jacksonville is powerful and unmistakable."
The hiring of Meyer comes after constant communication between him and the Jaguars organization. According to reports earlier this week, Meyer was in the process of assembling a coaching staff ahead of accepting the job.
"I'm ready to coach the Jacksonville Jaguars," Meyer said in a statement. "Jacksonville has an enthusiastic fan base, and the fans deserve a winning team. With upcoming opportunities in the NFL Draft, and strong support from ownership, the Jaguars are well-positioned to become competitive.
"I've analyzed this decision from every angle -- the time is right in Jacksonville, and the time is right for me to return to coaching. I'm excited about the future of this organization and our long term prospect for success."
Meyer won three national championships and compiled a 187-32 coaching record during stints at Bowling Green, Utah, Florida and Ohio State. He won two of those national titles (2006, 2008) with the Gators, and he guided the Buckeyes to the 2014 national title.
The 56-year-old Meyer is the sixth head coach in Jaguars history. He replaces Doug Marrone, who was fired by Khan earlier this month. Marrone posted a 25-44 record in four seasons with the Jaguars.
Jacksonville owns the No. 1 overall pick in the 2021 NFL Draft. The team is expected to use that pick on Clemson star quarterback Trevor Lawrence.