The 34-year-old first joined the Belgian side in a player-manager role back in May 2019, but has now hung up his boots and will take on the full managerial role at the club
While on his player-manager role, he stepped down from the managerial side and focused on playing after Anderlecht suffered their worst start to a season since 1998-99.
Frank Vercauteren took over as head coach, but reportedly had a fallout with Kompany with the two not sharing the same vision for the club.
Vercauteren has now left Anderlecht, and Kompany has been made the full-time manager of the Belgian side.
Anderlecht will release a statement on August 17, at 5pm to address the new development.