Having then left for what proved to be a short spell in charge of Bradford City, Adams has rejoined the Shrimps 48 hours on from Stephen Robinson’s switch to St Mirren.
Adams’ first stint with Morecambe came in the autumn 2019 when the former Ross County and Plymouth Argyle manager replaced Jim Bentley.
After preserving the club’s League Two status in the Covid-hit 2019/20 season, he steered them to a fourth-placed finish the following year.
They missed out on automatic promotion by a point despite posting an EFL club record points tally of 78.
After seeing off Tranmere Rovers in the play-off semi-final, Morecambe progressed into League One by defeating Newport County AFC via Carlos Mendes Gomes’ extra-time penalty at Wembley.
He inherits a Morecambe team which sits in the final relegation spot in League One, two points from safety with 13 games remaining.
Co-chairmen Rod Taylor and Graham Howse said: “We are delighted to welcome Derek back as manager.
“As soon as Stephen Robinson had confirmed he was moving on, we started the process of finding a new manager immediately.
“Derek is someone who has already written himself into Morecambe history after leading the club to League One level for the first time.
“He knows the place inside out and now returns to make further progress with us.
“He was the manager we earmarked straight away. We knew there would be a possibility that he would come back as we have a strong relationship with him, and after a whirlwind two days, we absolutely believe he is the right person to ensure our status in League One.
“We would like to thank Barry Roche (goalkeeping coach) for leading the team on Tuesday night against Rotherham United, which on another day, could have seen us leave South Yorkshire with a point, at least.
“This wasn’t the first time that Barry has stepped in while we looked to recruit a new manager, and we cannot thank him enough for his unquestionable professionalism once again.
“We are sure you will all join us in wishing Derek the best of luck in the position, and will get behind him and the team as we look to pick up three valuable points against Ipswich Town on Saturday.”
Adams added: “I am really looking forward to it, we have obviously got a challenge between now and the end of the season to stay in League One: we are in the relegation zone at this moment in time.
“I know the football club well, they were very good to me when I was here before.
“The co-chairmen, the board of directors, the supporters, the staff and the players were fantastic and it was a really easy decision for me to come back."
Adams will take training today ahead of Saturday’s home match against Ipswich Town (3pm).
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