The school made the announcement Saturday, less than two weeks after Tim Floyd suddenly resigned amid allegations of improper payments.
O'Neill served as interim coach at Arizona in 2008 and was designated Lute Olson's permanent successor, but that plan was later scrapped and O'Neill left the program.
The 52-year-old was an assistant coach with the Memphis Grizzlies this past season. He led the Toronto Raptors to a 33-49 record in 2004.
He is 171-180 in 12 seasons as a college head coach, which also includes stints at Tennessee and Northwestern.
THIS IS NOT A GAMBLING SITE – If you think you have a gambling problem click here.
Disclaimer: This site is for informational and entertainment purposes only. Individual users are responsible for the laws regarding accessing gambling information from their jurisdictions. Many countries around the world prohibit gambling, please check the laws in your location. Any use of this information that may violate any federal, state, local or international law is strictly prohibited.
Copyright: The information contained on TheSpread.com website is protected by international copyright and may not be reproduced, or redistributed in any way without expressed written consent.
About: TheSpread.com is the largest sports betting news site in the United States. We provide point spread news, odds, statistics and information to over 199 countries around the world each year. Our coverage includes all North American College and Professional Sports as well as entertainment, political and proposition wagering news.