Premier League champions Manchester United have appointed Everton manager David Moyes as Sir Alex Ferguson's successor at Old Trafford.

Moyes, out of contract at the end of the season, leaves Everton after 11 years in charge at Goodison Park.

The 50-year-old Scot has agreed a six-year deal to replace Ferguson, who announced his retirement on Wednesday after 26 years at United.

Moyes will take charge on 1 July.

Everton said in a statement: "Everton can confirm that David Moyes will leave the club at the end of the season.

"The manager met chairman Bill Kenwright early yesterday evening and confirmed his desire to join Manchester United.

"The chairman, on behalf of the club, would like to place on record his thanks to David for the massive contribution he has made to Everton since his arrival in March 2002. He has been an outstanding manager."

Moyes was installed as favourite to leave Everton for United following a rush of bets over the weekend, even before speculation mounted about Ferguson's retirement.

Ferguson, who stays at Old Trafford as a director and ambassador, has had a close relationship with his successor throughout his managerial career and considered appointing him as his assistant when Moyes was in charge at Preston North End.

Moyes had insisted he would make any decision on his Everton future until the end of the season, but has now accepted the challenge of succeeding the man many have seen as his mentor.

He has won widespread acclaim for consistently guiding Everton into the upper reaches of the Premier League on a limited budget, including reaching the qualifying stages of the Champions League in 2005, when they lost to eventual semi-finalists Villarreal.

Moyes has not won a trophy in his time at Goodison Park but United's hierarchy - and no doubt Ferguson - have been impressed by the stability he has brought and his ability to keep Everton punching above their financial weight.

He now has the challenge of continuing Ferguson's successes as United defend the Premier League title they clinched on 22 April and is expected to have transfer resources that are vast compared to those he enjoyed at Everton.

One of his first tasks will be to resolve the future of Wayne Rooney. The England striker had told the club he wants to leave, but could still be persuaded to stay should he receive assurances that he is central to Moyes' plans.

Moyes will also be charged with plotting United's campaign to win back the Champions League trophy they last won against Chelsea in Moscow in 2008.

Everton, meanwhile, begin their search for Moyes's replacement, with Wigan manager Roberto Martinez and Swansea boss Michael Laudrup both strongly linked with a move to Goodison Park.