The 43-year-old has spent nine years in charge at the Cardiff Blues - but he has now been released from his contract to move to Adams Park.
During his time at the Blues, Young lifted both the Amlin Challenge Cup and EDF Energy Cup.
And Wasps have highlighted the former British & Irish Lions and Wales international as the man to help them rediscover the winning formula.
Young, who has long been the favoured choice for the role, will replace Leon Holden in the hotseat.
Holden had held the position on an interim basis following the departure of Tony Hanks in February before opting to move to Japan.
Young will team up with Wales defence coach Shaun Edwards at Wasps.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
$29.99
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.
