The 51-year-old, who took charge of the League Two side for 13 years previously, departs his current position at Sligo Rovers after just 88 days at the helm of the Irish outfit.
"The opportunity arose for John to return home, to his former club, and it is with a heavy heart that he has made the decision to take this opportunity and leave Sligo," a statement on Sligo's official website read.
"The club would like to thank John and Jimmy for all their hard work during their time in The Showgrounds and wish them all the best for the future."
Coleman added: "I am disappointed to leave Sligo Rovers because it's a smashing club. Sligo is a lovely part of the world with great people.
"Opportunities to manage in the Football League do not come along too often. I know that as I've been out of work before. So when the chance comes you have to grab it. It's not a decision that myself and Jimmy have made lightly.
"Returning home to my former club was just too hard to turn down as well. I have a lot of history with Accrington Stanley and had a lot of good times and friendships there."
Accrington are currently 20th in the league table, with a trip to face Northampton Town this weekend.