Malone is a two-time Most Valuable Player and the No. 2 scorer in NBA history who spent 18 seasons with the Jazz. He played at Louisiana Tech from 1982-85.
"I'm excited about being involved with my Louisiana Tech family," Malone said. "My life has been a series of challenges, and I am looking forward to this [one]."
While accepting his new job at his alma mater, Malone pledged $350,000 toward an improvement project at the Thomas Assembly Center, where the Bulldogs play their home games.
At Louisiana Tech, Malone will be reunited with his friend, Kerry Rupp. A former high school coach in Utah - as well as an assistant and interim head coach at the University of Utah - Rupp was named Louisiana Tech's new head coach in April.