Askey, 54, whose dad Colin played for Vale for a decade in the 1950s, returns to control for its very first season since being chased by Shrewsbury in November.
He’s triumphed Neil Aspin, that stood down as Vale boss on Wednesday after 15 months in charge.
Askey has already signed a contract.
Vale are 18th above the relegation zone , just six points in League Two, and also have won just once in their past 12 games in all competitions.
Dave Kevan, who educated in the local rivals Stoke City of Vale and played for, will continue to work as manager alongside Askey.
Askey led Macclesfield a year prior to making the Silkmen to shoot his first managerial post from the British Football League.
Town lost under Paul Hurst while inside the League One play off final in May 2018 and so they fought under Askey, that won a few of the 17 league games responsible for the Shropshire club before he had been disregarded.