The technical co-ordinator has been handed the reins alongside Les Ferdinand and Chris Ramsey but will get the job on a full-time basis if he improves results on the pitch
Tim Sherwood will be appointed the next permanent Tottenham manager if he impresses as interim boss, Goal understands.
Sherwood has been placed in temporary charge of the first team following the sacking of Andre Villas-Boas on Monday morning.
In a statement on Monday evening, Spurs said: "We can announce that Tim Sherwood, Chris Ramsey and Les Ferdinand will take charge of the first team while the club progresses discussions."
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Sources have told Goal that Sherwood, the club's technical co-ordinator who is close to all-powerful chairman Daniel Levy, is in line to be given the manager's job on a permanent basis if he can improve the results and playing style.
Sherwood has impressed the Spurs hierarchy with his management of the club's development team, which has won plaudits for the fluency of its football. The 44-year-old former midfielder is also a member of the Tottenham transfer committee responsible for signing players.
He has initially been handed the reins for Wednesday's Capital One Cup clash against West Ham, where he will be joined in the dugout by striker coach Les Ferdinand and highly rated development coach Chris Ramsey.
Spurs announced that Villas-Boas' No2 Steffan Freund and goalkeeping coach Tony Parks will remain on the first-team coaching staff but the Portugese's countrymen Daniel Souza, Luis Martins and Jose Mario Rocha have left the club.
Villas-Boas was sacked on Monday morning following a hastily arranged board meeting after seeing his side humiliated in a 5-0 defeat to Liverpool on Sunday.
The Spurs board want a smooth transition from one regime to another and believe Sherwood's knowledge of the players and the club's culture makes him a strong candidate to permanently succeed Villas-Boas.
Goal understands that Spurs have also made contact with Guus Hiddink and Fabio Capello, but the former is committed to the Dutch national team for four years from next summer and the former England manager is on an extremely lucrative package to manage Russia at the 2014 World Cup.
Sherwood spent four years as a player at White Hart Lane between 1999 and 2003 before returning five years later as part of Harry Redknapp's coaching staff. He was retained by Levy alongside Ferdinand despite Redknapp's sacking in 2012 and has worked closely with Villas-Boas at Tottenham's Spurs Lodge training complex in recent months.
Sherwood has been linked with a number of moves away from Spurs over the past 18 months, with the club having rejected an approach from his former club Blackburn in October 2012.