The 51-year-old Rutten signed a one-year deal and will start July 1. One month ago Koeman announced he would quit Feyenoord after this season, reported Xinhua.
Koeman succeeded Mario Been at the end of July 2011.
Since Koeman’s announcement, several major candidates were linked to the job. Louis van Gaal and Co Adriaanse were asked by Feyenoord, but both refused to take up the challenge.
Rutten was previously head coach of FC Twente, PSV, German side Schalke 04 and Vitesse, his last club. He led Vitesse to the fourth place last season. After that he was without an assignment.