
His reinstatement to the post he occupied from 1982 to 2012 sees him replace Martin Whitmarsh.
Whitmarsh's position as McLaren team principal remains uncertain.
McLaren went through the 2013 Formula One season without a single podium finish for the first time since 1980.
Jenson Button's fourth place finish at the final round in Brazil was the team's best result of the year.
In 2012, the team chalked up seven wins and was a regular threat to ultimate champions Red Bull.

Dennis, McLaren team principal from 1982 to 2009 - during which time they won 10 drivers' and seven constructors' championships - said: "My fellow shareholders have mandated me to write an exciting new chapter in the story of McLaren, beginning by improving our on-track and off-track performance.
"Over the coming weeks I intend to undertake a thorough and objective review of each of our businesses with the intention of optimising every aspect of our existing operations, whilst identifying new areas of growth that capitalise on our technologies, and where appropriate further investing in them."
There has been talk that Whitmarsh, a protégé of Dennis, could see his job under threat by former Mercedes team principal Ross Brawn, who is taking a six-month sabbatical.
In November, with two races of the 2013 season remaining, McLaren announced it was replacing Mexican Sergio Perez after one year at the team with Dane debutant Kevin Magnussen, who will partner 2009 world champion Button for the 19-round 2014 campaign.
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