The Ibadan club were relegated to the Nigeria National League (NNL) on the final day of 2012/13 season.
The club have now recruited Howard after an interview for seven shortlisted coaches.
Former 3SC striker, Edith Agoye and. Adeyemo Ayodele will assist Howard.
Details of the contract is still unknown but supersport.com learned that Howard is expected to spend a season as head coach with the Oluyole Warriors.
"The board and management of 3SC have employed Franklin Howard as head coach, Edith Agoye (assistant coach) and Adeyemo Ayodele (trainer) to replace the sacked ones. This is after coming tops during the interview for seven shortlisted from 13 candidates who applied and with the endorsement of the Oyo State Ministry of Sports while they are to resume immediately," a statement from the club disclosed on Friday.
Howard returns to the club after four years when he led the Ibadan club from the lower division back to the Premier League in the 2008/09 season.
The former Unicem Rovers and Union Bank gaffer left 3SC unceremoniously in August 2009 after a disagreement erupted concerning playing personnel.
Earlier this week, 3SC announced the sack of head coach, Hakeem Busari and his assistants, Babatunde Odubola and Adi Haruna.