Stoev becomes Ludogorets' third coach this season after replacing Antoni Zdravkov, who was heavily criticised by media and fans after a series of poor results.
In October Brazilian Paulo Autuori left Ludogorets four months after being appointed as coach.
Ludogorets have won only one of their four matches in the second half of the Bulgarian league campaign but still top the standings with 56 points from 24 matches, with Sofia rivals Levski and CSKA on 51.
Ludogorets said that Zdravkov would remain at the club as Stoev's assistant. Stoev has been in charge at Bulgarian second division side Arda Kurdzhali for the last six months.
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Former Lokomotiv Sofia winger Stoev led Ludogorets to a domestic double in 2014, playing 63 matches in a marathon campaign that began in mid-July and included a 16-game Europa League run in which The Eagles reached the last 16.
Ludogorets have won 12 domestic trophies, including seven league titles, two Bulgarian Cups and three Supercups, since 2011 when they were promoted to the top-flight for the first time.
(Reporting by Angel Krasimirov; Editing by Toby Davis)
