The 50-year-old, who has coached five smaller Bulgarian clubs and the national juniors, replaces Ivaylo Petev who was sacked on Sunday after Ludogorets's surprise defeat in their opening game of the domestic league season.
Ludogorets, who have won back-to-back league titles, lost 1-0 on Saturday to newcomers Lyubimets 2007, whose home town has a population of fewer than 8,000.
"Stoev was chosen from among nearly 50 coaches who were offered to the club's management," Ludogorets said in a statement. "There were a large number of foreigners among the bids but Ludogorets decided to rely on a Bulgarian once again."
Ludogorets said former Lokomotiv Sofia winger Stoev would be presented to the media on Tuesday, a day before they host Slovan Bratislava in the return leg of their Champions League second qualifying-round tie.
Slovakian champions Slovan won the first leg 2-1 after scoring twice in the final five minutes.
- Sports & Recreation
- Ivaylo Petev