"I am very excited at this fantastic opportunity to join Queens Park Rangers," De Canio said.
"For me, it will be an honour to work for a club which is backed by Bernie Ecclestone and Flavio Briatore, two businessmen with an incredible track-record of success in sport and other fields.
"I would like to thank them and tell them I will not disappoint their expectations.
"I am fully committed to the project and I am looking forward to getting to work with the players in preparation for our forthcoming home fixture against Hull City on Saturday."