The Scotland assistant boss managed the Well between 2007 and 2009 before moving to Aberdeen.
The 58-year-old has signed a contract until June 2017 and will take charge of the team against Celtic on Saturday.
McGhee has been part of Scotland's backroom staff since 2013 and it is not yet clear whether he will continue in that role.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| Championship Group | |||||||||
| C | Celtic | 5 | 5 | 0 | 0 | 95 | 30 | 65 | 93 |
| 2 | RangersRangers | 5 | 3 | 1 | 1 | 87 | 32 | 55 | 85 |
| 3 | Hearts | 5 | 1 | 3 | 1 | 54 | 42 | 12 | 68 |
| 4 | Kilmarnock | 5 | 1 | 2 | 2 | 46 | 44 | 2 | 56 |
| 5 | St Mirren | 5 | 1 | 1 | 3 | 46 | 52 | -6 | 47 |
| 6 | Dundee | 5 | 0 | 1 | 4 | 49 | 68 | -19 | 42 |
| Relegation Group | |||||||||
| 1 | Aberdeen | 5 | 4 | 1 | 0 | 48 | 52 | -4 | 48 |
| 2 | Hibernian | 5 | 2 | 1 | 2 | 52 | 59 | -7 | 46 |
| 3 | Motherwell | 5 | 2 | 0 | 3 | 56 | 59 | -3 | 43 |
| 4 | St Johnstone | 5 | 1 | 1 | 3 | 29 | 54 | -25 | 35 |
| 5 | Ross County | 5 | 1 | 2 | 2 | 38 | 67 | -29 | 35 |
| R | Livingston | 5 | 2 | 1 | 2 | 29 | 70 | -41 | 25 |
| First Phase | |||||||||
| C | Celtic | 33 | 24 | 6 | 3 | 80 | 26 | 54 | 78 |
| 2 | RangersRangers | 33 | 24 | 3 | 6 | 72 | 23 | 49 | 75 |
| 3 | Hearts | 33 | 19 | 5 | 9 | 46 | 34 | 12 | 62 |
| 4 | Kilmarnock | 33 | 13 | 12 | 8 | 43 | 34 | 9 | 51 |
| 5 | St Mirren | 33 | 12 | 7 | 14 | 38 | 43 | -5 | 43 |
| 6 | Dundee | 33 | 10 | 11 | 12 | 44 | 54 | -10 | 41 |
| 7 | Hibernian | 33 | 9 | 12 | 12 | 44 | 51 | -7 | 39 |
| 8 | Motherwell | 33 | 8 | 13 | 12 | 46 | 51 | -5 | 37 |
| 9 | Aberdeen | 33 | 8 | 11 | 14 | 35 | 49 | -14 | 35 |
| 10 | St Johnstone | 33 | 7 | 10 | 16 | 24 | 46 | -22 | 31 |
| 11 | Ross County | 33 | 7 | 9 | 17 | 32 | 56 | -24 | 30 |
| R | Livingston | 33 | 3 | 9 | 21 | 22 | 59 | -37 | 18 |
| > Scottish Premiership Full Table | |||||||||
