"I am really excited to have the opportunity to work with Boris," Djokovic said.
"He is a true legend, someone who has great tennis knowledge and his experience will help me win new trophies from the grand slams and other tournaments," the world number two said.
Six-time Grand Slam champion, 46-year old Becker said he was "proud Novak invited me to become his head coach."
"I will do my best to help him reach his goals, and I am sure we can achieve great things together," he said.
Vajda, who has worked with Djokovic for almost eight years, welcomed Becker into the team, saying it was a "good solution" to choose the German player.
"I realised that Novak needed a new head coach in order for him to continue improving certain parts of his game," Vajda said.
Becker will link up with Djokovic and his team for the year's first Grand Slam tournament, the Australian Open, which starts in Melbourne on January 13.
"Boris brings a new and fresh approach, and together with Vajda he will make a winning combination," 26-year old Djokovic said.
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