Dearden takes over a team 19th in League Two

Dearden, who was in charge between June 1999 and January 2002, succeeds Peter Shirtliff, who left on 19 December.

"I know the fans are behind me and I can't wait to start," said Dearden.

His first match in charge will be at Accrington Stanley on Saturday, while caretaker boss Paul Holland will revert to his role as assistant manager.

Dearden has signed a deal that will take him up to the end of the season.

My immediate job is to get Mansfield into the top half of the table New Mansfield boss Billy Dearden

And he added on the club's website: "Talks were long and hard as they always are but we have arrived at a conclusion we are happy with.

"I have fond memories of Mansfield Town and the good young players I had - and I think that the boys here now are similar. I believe that they can be even better than they are now.

"I have known Paul for a number of years, bringing him to the club as a 14-year-old, so we have a lot of history and I am looking forward to working with him."

The Stags are currently 19th in the League Two table and Dearden said: "They are currently in the bottom five so my immediate job is to get them into the top half of the table."