The team tabbed the 55-year-old for the job with less than a week before the NBA Draft. The Cavaliers have the first pick in the draft for the second year in a row and the third time in four years. Blatt replaces Mike Brown, who was fired last month after his second stint with the team.
Blatt has coached a variety of Euroleague teams since 1993, leading Maccabi Tel Aviv to championships in both the Israeli league and the Euroleague in 2014.
Cleveland had reportedly narrowed their coaching search down to just Blatt and Los Angeles Clippers assistant Tyronn Lue earlier this week, and began negotiations for a contract with the former coach of the Israeli national team on Thursday night.
Blatt announced that he would be leaving for the NBA in a news conference earlier this month, and was also considering an offer to be an assistant under newly hired Golden State Warriors coach Steve Kerr.