The 72-year-old is set to return for a fourth spell in charge of the German champions, who he led to a Bundesliga, German Cup and Champions League treble in 2013.
Heynckes retired after that successful season but is believed to have agreed a contract until the end of the season.
Bayern sacked Ancelotti as manager following last month’s 3-0 defeat to Paris Saint-Germain, with his assistant Willy Sagnol taking charge of the team on an interim basis.
They drew 2-2 at Hertha Berlin last Sunday, leaving them five points behind leaders Borussia Dortmund.
Former Dortmund boss Thomas Tuchel had been strongly linked with the Bayern job, as was Hoffenheim’s Julian Nagelsmann.
Bayern’s next fixture is at home to Freiburg on October 14, and four days later they welcome Celtic to the Allianz Arena in the Champions League.
A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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