Blokhin who made his name at the Russian side has promised to return them 'to their former glory'.
Oleh Blokhin will remain in charge of Ukraine for next month's FIFA World Cup qualifiers against Moldova and Montenegro.
Kyiv-born Blokhin, 59, has signed a four-year contract with the club.
Yuri Semin was fired on Monday following a 4-1 Ukrainian Cup exit to FC Shakhtar Donetsk.
According to Dynamo's agreement with the Football Federation of Ukraine (FFU), Blokhin will only give up his national team role after facing Moldova on 12 October and Montenegro four days later, having drawn their opening Group H qualifier 1-1 in England.
Blokhin said: 'Last night I had almost no sleep. Dynamo's president gave me quite a late call, and I had to think about everything. This is a huge responsibility. I know what is to work with the club. It's not a national team, you have to be at the training base every day, sometimes even for 24 hours, trying to return Dynamo to their former glory.'
Blokhin, who played as a striker at Dynamo in the 1970s and 1980s, added: 'We have tough matches ahead of us: against Zorya Luhansk, Dnipro Dnipropetrovsk and Metalist Kharkiv in the league, as well as home tie versus Dinamo Zagreb in the UEFA Champions League. The team has to wake up. We can't just suffer one 4-1 defeat after another – it's too much for our club.'
Sept. 26, 2012.
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