The Welshman, who is to begin his 24th season at Old Trafford, seems to be preparing for life after playing as he approaches his 40th birthday.
The 39-year-old has been taking his coaching badges and is set to acquire his UEFA Pro License next summer.
The 13-time Premier League winner sees the move as a look ahead to life after retiring from playing at the end of the upcoming season.
“It’s a great privilege to be appointed a player coach," Giggs told the club's official website. "I hope I will be able to bring my experience to bear, having been both a player and part of the Manchester United family for so long.
"It’s no secret that I have been taking my qualifications and I see this as the first step in my future career. I’m really looking forward to working alongside David and the team.”
New Red Devils boss Moyes has spoken of his 'delight' that the Welshman has accepted the opportunity and is expecting the younger players at Old Trafford to benefit from him.
“I’m delighted that Ryan has accepted the chance to become player coach. His success and ability to adapt his game over a number of years gives him an unrivaled perspective on the modern game," Moyes said.
"His career is an example to any aspiring young player and I’m sure that both he and the players will benefit from his new role."