An 8-2 drubbing at the hands of Atalanta on Sunday cost Nicola his job a day later.
The result left Salernitana 16th on the Serie A table, nine points above the relegation zone.
However, after negotiations with prospective replacements for Nicola, including Rafael Benitez, failed to materialise, Salernitana have gone back for their former manager.
Salernitana appointed Nicola in February last year with the club batting relegation and he managed to keep them in the top flight before being handed a two-year contract.
The 49-year-old has confirmed he is back at the Stadio Arechi after clear-the-air talks with President Danilo Iervolino and sporting director Morgan de Sanctis.
“I will tell you the truth. I received a call from President Iervolino yesterday,” the coach wrote on social media.
“With his methods, which are always lovely and friendly, he explained to me the reasons for his painful decision which he had to take to highlight discontinuity after a bad defeat against Atalanta in Bergamo.
“I apologised, taking responsibility for a performance that was not adequate and the resulting heavy defeat. I believe in this team and its men and this great club.
“I strongly demanded the President reconsider his decision knowing to deal with a human soul that has a deep sensitivity to understanding and strongly wants to build a different football. I love Salerno and strongly believe in this project,” he continued.
“The President has always given us passion, personality and desire to reach impossible targets. He firmly believes that when men push in the same direction, they can do extraordinary things.
“I thank the President for calling me; this means that the new football is made of passion and heart, and I want to repay his trust with all my love. I thank director Morgan De Sanctis for the mediation. Without him, this operation would not be possible. We have weeks of hard work ahead to reach our targets.
“Let’s start again, all together and recount another extraordinary history of football, giving the Granata fans the same passion and sense of belonging they always show us. This is Salerno, this is Salernitana, much more than just a football club.”
Salernitana have the chance of putting things right with the small matter of hosting runaway league leaders Napoli on Saturday.
