Rodgers' move to the King Power Stadium, after two-and-a-half years in Glasgow, was rubber-stamped on Tuesday.
Confirmation of the former Liverpool boss's arrival at Leicester was immediately followed by Celtic announcing the re-appointment of former club captain Lennon, who won three league titles and two Scottish Cups during his previous spell as manager between 2010 and 2014.
He also claimed five league titles, four Scottish Cups and two Scottish League Cups with the club as a player, while also winning two League Cups, coincidentally, as a member of Leicester City during his playing career.
💬 "I'm here for the club. The club comes first and I want to bring as much success here as I possibly can."— Celtic Football Club (@CelticFC) February 26, 2019
📺 Neil Lennon speaks to @CelticTV's @gerrymcculloch1 in his first interview since returning as #CelticFC manager.
Welcome home, Neil 🍀 pic.twitter.com/aIPdoGrXmT
Lennon, who left his role as Hibernian boss last month, said: "I am absolutely delighted to be named manager of Celtic again. This is a Club which has been such a huge part
“I have given everything to Celtic as a player and manager already in my career and I am ready to do the same again. I will be doing all I can to continue the great work that has gone on in recent years."
In addition to his stays with Celtic and Hibernian, Lennon previously managed Bolton Wanderers from 2014-16
John Kennedy and Damien Duff will serve as assistant manager and first-team coach respectively under Lennon, who will immediately take charge for Wednesday's trip to Hearts.
"I am delighted that John Kennedy and Damien Duff have agreed to be part of my team," Lennon added.
"John will allow us to have important continuity and Damien will bring real knowledge and experience to the first team squad.
“I am returning to one of the biggest and best clubs in world football and I can’t wait to get started.”
Celtic currently sit atop the league table on 63 points, eight points ahead of rivals Rangers.