The 72-year-old replaces Jaap Stam in the role after the former Manchester United defender resigned on Monday.
Stam lasted less than five months at the Rotterdam based club and left Feyenoord 12th on the Eredevisie table after just three wins from eleven league games.
Advocaat comes with a rich vein of experience having managed clubs like Rangers, Fenerbahce, Sunderland and Zenit Saint Petersburg as well as the South Korea, Belgium, Russia and Serbia national teams.
Feyenoord have endured a testing start to the season which culminated in a bruising 4-0 defeat at the hands of champions Ajax Amsterdam in De Klassieker last Sunday.
"If I can help the club, I'll gladly do it," Advocaat said in a statement.
"I'm looking forward to getting on the field and working with the players."
Feyenoord are also bottom of their Group G Europa League group with only three points as they are behind Young Boys, Rangers and FC Porto in the standings after three round of matches.
Feyenoord technical director Sjaak Troost added: "If a trainer with the enormous track record of Dick Advocaat is available and willing to help the club for this season, you naturally do not have to think long about that as a club manager.
"With his experience, authority and drive, and with a largely renewed assistant team, we are confident that we will find our way up."
Advocaat’s first game in charge of Feyenoord will be at VVV Venlo on Sunday.
