Baraclough, 39, who was first-team coach, steps up following the departure of boss Nigel Adkins and assistant Andy Crosby to Southampton.
His first task will be to prepare the side for Tuesday night's Championship game at Sheffield United - against a side who also recently changed their manager, with Gary Speed replacing Kevin Blackwell.
Baraclough, 39, has been at Glanford Park since he was signed from Notts County by then manager Brian Laws in March 2004.
He became player-coach in November 2006 as part of Nigel Adkins' backroom staff, retiring from playing duties entirely in the summer of 2008
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Baraclough, 39, has been at Glanford Park since he was signed from Notts County by then manager Brian Laws in March 2004.
He became player-coach in November 2006 as part of Nigel Adkins' backroom staff, retiring from playing duties entirely in the summer of 2008.