The rumors and unofficial information were correct. Andoni Iraola will take over the Premier League club and will coach, among others, Swedish striker Alexander Isak.
Andoni Iraola led Bournemouth to sixth place last season - the club's highest ever Premier League finish.
He has signed a two-year contract, joining just days after Dutchman Slot was forced to leave the club.
Liverpool finished fifth in the league and was drawn against eventual champions Paris Saint-Germain in the Champions League quarter-finals. But the result was not enough for Arne Slot, despite leading the club to a league victory last season.
Aware of the high demands, Iraola tells the club's website:
Liverpool gives me the chance to coach top players, and top players give you the chance to fight for titles. To win.
Of course you can't promise everything when you come to a new club. But I understand where I'm coming from and what's expected of me. I'm ready for the challenge.
