The 40-year-old has been out of work since departing Preston North End in March and worked with Easter Road chief executive Ben Kensell at Norwich City, taking them up from the Championship to the Premier League.
First-team coach and former club captain David Gray will take interim charge of the team for the foreseeable future, aided by Eddie May and Craig Samson, following the sacking of Jack Ross and his assistant John Potter.
As Hibs start the search for the club’s 34th full-time manager, it remains to be seen if a permanent replacement will in appointed before the Premier Sports Cup final with Celtic on December 19, but candidates have already emerged.
Former Preston, Norwich, and Hamilton boss Neil will be well known to Kensell.
Ironically, he was working for BBC Sportsound at Wednesday’s 1-0 defeat by Livingston and said on the radio: "I think I’ll certainly manage in Scotland again if I get the right opportunity.
“Whether that’s short term, as in the next job, or in future I’m not sure.
"My career started in Scotland, I came back to Scotland and I’ll probably come back to Scotland.”
Ex-Celtic manager Neil Lennon has also been linked with a return to the Capital club, while Scotland No.2 John Carver is reportedly an option, with the former Newcastle interim boss said to be eyeing up a return to club football.
The 56-year-old has had stints managing Toronto and Omonia in Cyprus, as well as caretaker roles with Leeds and Sheffield United.
Then sacking of Ross was announced yesterday morning.
Kensell said: “Following the prolonged run of poor results in the league, the club has taken the tough decision to relieve Jack Ross of his duties.
“We thank Jack and John for all their hard work and dedication to the role, the club has moved forward under their leadership, and we will fondly remember some incredible highs like reaching two cup finals and finishing third in the league last season. We wish them all the best in their future endeavours.”