"The board has decided to appoint as coach Avram Grant, firmly convinced that the club will achieve what its army of fans expect with him in charge," the club said on their website.
"Grant's contract will be in line with the club's realistic limits while his official presentation is to be held shortly.
"Stanojevic was sacked after breaching the club's statute and the gravity of his conflict with the board was such that further cooperation was no longer possible."
Stanojevic had vowed to resign after managing director Mladen Krstajic was sacked, but then did a U-turn and said he wanted to stay until the end of the season to retain the domestic double.
It became apparent he was counting his last days at Partizan, who are chasing a record fifth successive league title, when widespread local media reports suggested earlier this week that the club were looking at several international coaches as a potential replacement.
Israeli Grant should have little trouble in keeping the league title in Partizan's trophy cabinet, as they are 10 points ahead of bitter city foes Red Star at the winter break in their perennial two-team battle for domestic supremacy.
Grant steered Chelsea to the 2008 Champions League final and was in contention for the Premier League title to the last day of the season after taking over from Jose Mourinho at Stamford Bridge in September 2007.
His contract was terminated at the end of the season after he conceded both titles to Manchester United and after an eight-month stint at Portsmouth, he failed to save West Ham from relegation last season.
