He replaces Joaquin Caparros who was sacked after a 3-0 defeat by Real Sociedad last weekend left Los Bermellones in 19th place, just one point off the bottom of La Liga.
“I know the club and some of the staff, I know the challenge. We have a commitment to save the team and thereafter continue for another year,” Manzano told a press conference.
“You know I want what is best for Mallorca and the fans. This is my home, I have experienced many things here, good and bad.”
Manzano, who has also coached Malaga, Athletico Madrid and Sevilla, believes that the current squad can retain their top flight status.
“I have knowledge of this team, there are players who have worked under me but they must be analysed as a whole. We need the players to be at 120 per cent.
“This team has the quality and commitment to continue in the Primera Division.”
Manzano’s first spell with the club came in 2002 when he won the Copa del Rey. He then returned in 2006, spending four years with the side and finishing fifth in La Liga in 2009/10.