The popular 42-year-old known as 'Batigol', who netted 56 goals in 78 matches for Argentina including hat-tricks at two World Cups but had been out of the game since hanging up his boots in 2005, will start work in the New Year.
"I feel like when I was going to make my [first division] debut in 1989. I'm a bit nervous about the unknown but sure I'm capable of doing the job," Batistuta told a news conference at his presentation by the Santa Fe-based club on Tuesday.
He said he would act as a liaison between the directors and the players and coaching staff at Colon, who finished joint second in the Apertura, the first of the two championships in the Argentine season, 12 points behind winners Boca Juniors.
Colon have qualified for next year's Copa Sudamericana, South America's second-tier club competition.
Batistuta, born in Santa Fe province, began his career at Newell's Old Boys and played for both Buenos Aires giants River Plate and Boca Juniors before joining Fiorentina.
After a decade with the Florence club, he joined AS Roma where he was part of their 2001 Serie A title-winning side.
With Argentina, he won the Copa America in 1991 and 1993 and played at the 1994, 1998 and 2002 World Cups.
Batistuta, who saw out his career with Al-Arabi in Qatar, has been playing low handicap polo for a Boca Juniors team.
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