Athletic director Bill Moos on Saturday announced the much-anticipated hire a bit later than expected, about two hours after Frost's 12th-ranked UCF team defeated No. 16 Memphis 62-55 in two overtimes in the American Athletic Conference championship game to extend its flawless record to 12-0.
Frost and the Knights are 11-0 and remain one of only two unbeaten FBS schools at this point in the season.
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Frost was a former Huskers quarterback under legendary coach Tom Osborne.
The new Husker coach also played six seasons in the National Football League for four different teams. The 42-year-old Frost has led a remarkable turnaround at Central Florida;.
"It is a great honor and privilege to have the opportunity to return to Nebraska and to lead the Husker football program", Frost said.
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Frost will lead a Nebraska program in the midst of a two decade slide from national prominence that's included the firing of four coaches since 2003.
"I am appreciative of the confidence Bill Moos and our university leadership have in me to lead this program", Frost said. Nebraska finished 4-8 this season, the team's worst record in nearly 60 years. "When you win a lot, people are interested in you".
Frost's statement ended with, "Go Big Red!" Frost will be officially introduced as Nebraska's head coach during a press conference on Sunday, Dec. 3, at noon.
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While he's only been a head coach for two seasons, Frost has a wide range of coaching experience as an assistant, particularly his time at OR working under Chip Kelly and Mark Helfrich.