The 40-year-old Portuguese coach, who replaces Sam Allardyce at Goodison Park, has Premier League experience, with Watford and Hull City.
Before that, Silva enjoyed trophy-winning spells with Sporting Lisbon and Olympiakos having also helped Estoril climb through the ranks in his native Portugal.
Everton had tried to lure him last season before taking on Allardyce, causing Silva’s departure from Watford, who complained of an “unwarranted approach by a Premier League rival”.
Known as a manager who wants his teams to play attractive, attacking football, Silva believes Everton fans will be proud of what they see on the pitch next season.
“I’m really proud to be the new Everton manager,” Silva told Evertontv.
“I’m excited and I’m really happy to take this big challenge for us as a club and for me as a manager.
“I know the huge history of Everton as a club and what the fans expect. I’m sure with everybody working together I will be ready for this challenge.”
While city rivals Liverpool enjoyed one of their best seasons in recent memory, reaching the Champions League final and finishing fourth to secure a spot in the competition next season, Everton finished five points behind Burnley in seventh, missing out on a Europa League spot.
With the backing of Everton’s Iranian billionaire owner Farhad Moshiri, Silva said he is ready to meet the fans’ expectations of a far more successful season in 2018-2019.
“We have a lot of work to do in this next month and it is important to prepare everything in the right way,” he said.
“But there will be even more important work to do from the start of pre-season into the first Premier League match of next season.
“I know what our fans expect — they expect results but not only results. I want our fans to be proud when they see our team on the pitch.
“I want them to feel that we are committed, that we are working hard and enjoying our football because that is important as well.
“We want to build a great connection between the squad and the fans, and I’m sure that with our attitude and demands of commitment then our style of play will see that, I believe.
“Everton is a really ambitious club and that is what I want. What we are seeing now are good changes at the club.
“But one thing we cannot change and nobody wants to change is the huge history and ambition of the Club.”