The 40-year-old was given the job at the City Ground on Sunday evening following the dismissal of Stuart Pearce, as confirmed by Forest’s official website.
The 52-year-old Pearce has been offered an advisory role at the Nottingham-based club, but former Crystal Palace and Bolton Wanderers manager Freedman will be in charge of the first team from now on.
Freedman has been without a managerial job since October 2014 when he parted company with Bolton, and he is glad to be back in football management.
Speaking to The Sun, the former Scotland international striker underlined two factors why returning to his former club Forest appealed to him: the players and the fans.
“It’s great to be back in management,” said Freedman. “This is a top job, a wonderful club.
“I know how big Forest is from my time there as a player. What excites me is that they have a great group of players and fans who want success.”
Forest are one of the biggest clubs of England notwithstanding the fact they are currently playing in the Championship.
The Reds have a loyal and strong fanbase and a group of players who have potential - they showed that in the opening few months of the season.
Freedman will inherit a Forest squad struggling for form and stranded in 12th place in the Championship table with 34 points from 28 matches.
Not so long ago Forest were on course for a top-six finish, but now there is a danger that they could be dragged into a relegation dogfight.
One suspects that Freedman main priority for the season will be to avoid that very scenario and consolidate a place in mid-table.