The Manchester United legend makes the move into management with his boyhood club having been given the green light to take charge by an English Football League meeting.
Scholes, 44, required special permission to hold the role given his involvement at National League club Salford City, where he owns a stake along with former team-mates Gary and Phil Neville, Ryan Giggs, David Beckham and Nicky Butt as well as Singapore businessman Peter Lim.
However, he will be officially named as the new boss at a Boundary Park press conference at 2pm today, taking over from caretaker boss Pete Wild.
The Latics sacked Frankie Bunn in December and have now opted for Scholes as their long-term successor.
"You think, you want to be involved in that. Whatever level it is, you want to fight for something. It’s just the frustration of not being involved.
“Saturday afternoon is the hardest. I can go out and watch games but I’m constantly on my phone looking at results, 'What score is this? What score is that.' I want that feeling back again of working towards something through the week, working towards Saturday, through to the end of the season.
“I’ve got to a point now where if something does come up, I don’t want to be sat at home wondering about it. I want to give it a go and see what happens."