Cape Town - Boardroom fights, clashing egos - How things unravelled for Benni McCarthy at CT City
McCarthy was sacked on Monday after a disastrous spell with the Citizens claiming just two wins in their last 18 league encounters.
The 56-year-old Riekerink comes with a vast amount of coaching experience having managed teams such as Ajax Amsterdam, Turkish giants Galatasary and most recently SC Heerenveen.
"What I can bring to the club is my experience from my years of coaching, Reikerink said. "I hope we achieve results that fit with the ambitions of the club."
"I'm really proud to be back here and I'm really proud to coach this team."
The Dutchman is believed to have beat out former Ajax Cape Town head coach Muhsin Ertugral to the job - who was spotted in Cape Town - and has an excellent relationship with CT City boss John Comitis.
City next host Polokwane City in an Absa Premiership clash at the Cape Town Stadium on Wednesday.
Kick-off is at 19:30.