Florida hired Colorado State's Jim McElwain earlier this month to replace Will Muschamp. Colorado State went 22-16 in three seasons under McElwain, including a 10-2 mark this year en route to a berth in the Las Vegas Bowl.
Bobo, 40, joined Mark Richt's staff in 2001 as quarterback and has been Georgia's offensive coordinator since 2007. Georgia finished this season No. 4 in the Southeastern Conference in total offense, averaging 41.7 points and 455 yards per game.
At Georgia, he has coached several quarterbacks who have gone on to the NFL, most notably Detroit Lions starter Matthew Stafford.
Bobo is a 1997 graduate of Georgia and played football for the Bulldogs.
Georgia finished the regular season 9-3 and will play Louisville in the Belk Bowl on Dec. 30.
- Paul Palladino