Magath was brought in by relegation-threatened Fulham on Friday evening, as the club opted to replace Rene Meulensteen.
Reports have claimed that Fulham want Meulensteen to remain as assistant to Magath - but it remains to be see whether the Dutchman would consider such a role.
But one thing that is certain is Magath has indeed penned an 18-month deal and the two-time Bayern Munich coach will look to save the Cottagers from relegation.
"Here we go again, I'm coming back into football," said Magath.
"It's a fantastic working environment for any coach and footballer.
"This amazing club and its owner Shahid Khan have totally convinced me and given me the managerial responsibility.
"I'm looking forward to the football and, even more so, to the work."
Fulham's decision to replace Meulensteen with Magath has surprised many fans, but Supporters' Trust member Dan Crawford believes it could save the Cottagers' season.
"We have got a week's break now before a massive game against West Brom so it was the last time we could make a change," said Crawford.
"Magath has never managed outside the Bundesliga so getting him to come in to a team in this position is a bit of a coup and we have a £12million striker [Kostas Mitroglu] who is yet to play.
"You always need something or someone special and, in Magath, it looks as though the club have brought in an experienced fire-fighter."