Simmons won the 2019 Caribbean Premier League (CPL) with Barbados Tridents on Sunday and recently led Afghanistan to their maiden World Cup appearance.
"Bringing Phil Simmons back is not just righting a past wrong, but I am confident that CWI has chosen the right man for the job at the right time. I want to also thank the very talented Floyd Reifer for the hard work he put in while he was the interim coach," said Ricky Skerritt, the CWI President.
Jimmy Adams, CWI's Director of Cricket, who was also part of the interview panel for screening the candidates, said: "I am happy, after a very robust recruitment process at the appointment of Phil to the role of Head Coach. I have no doubt that Phil brings the requisite leadership skills and experience needed to drive improvement across our international squads and I look forward to supporting him in the role."
The cricket board has also announced the selection panels for the men, women, boys and girls' teams.