The 55-year signed a two-year contract in Abidjan on Tuesday and will start his mission immediately as the 2010 World Cup qualifiers campaign will start next month.
"It's a terrific sporting challenge. It is a team with much ambition which possesses a very talented generation but who have won nothing," Halilhodzic told French magazine l'Equipe.
It won't be the Bosnian's first adventure in Africa as he won the Champions Cup with Moroccan side Raja Casablanca in 1997.
He then coached in France with Rennes, Lille and Paris St Germain. He was appointed coach of Saudi giants Ittihad Jeddah in 2006 but didn't make any success and was sacked after less than six months in charge.
The Elephants will kick off their World Cup qualifying campaign on June 1st when they host Mozambique.