Walsh replaces Graeme Allan, after resigning from his new position at North Melbourne.

His move was confirmed by both clubs on Monday.

"We are delighted to welcome Geoff back to the club," Collingwood CEO Gary Pert said in a statement.

"'Walshy' not only has a great knowledge of football, but an intrinsic knowledge of Collingwood, its people and its history, which is particularly relevant as we head into our 125th year.

"Geoff understands what is required to create a successful football environment. He played a pivotal role in building our last premiership team and under his watch the club featured in finals every year. I think that he is exactly the person Collingwood needs for a stable, seamless transition into 2017.

"I know Nathan and the football department are looking forward to working alongside a man of Walshy's experience and authority, as is our Board and administration team."

Marcus Wagner, who has been acting as interim football manager, will stay in that role until December 12, Walsh's official start date.

Wagner will then return to his role as football operations manager.

Walsh recently handed the running of the Roos' football department to Cam Joyce, who previously the club's list manager.

He had intended to move into a less demanding position before the opportunity at Collingwood came about.

"I'd like to thank Geoff for his valuable contribution over the past three years," Kangaroos CEO Carl Dilena said in a statement.

"While this is very much an amicable parting of ways, because he is moving to another AFL club, it makes sense for Geoff to finish up with us immediately."

Walsh left North many years ago to move to Collingwood and run their football program for eight years.

A key influence in the club's 2010 premiership year, he resigned in 2013 and returned to North.

Rodney Eade and Neil Balme followed him into the job at Collingwood, before Allan was appointed earlier this year.

Allan's recent suspension and subsequent resignation led the Pies to seek out yet another replacement.