Renard has left his role as manager of the Zambia national side to join the Ligue 1 strugglers, who have one victory in nine games so far this season.
The 45-year-old enjoyed a hugely successful second spell in charge of Zambia, which included winning the Africa Cup of Nations last year.
Zambia are due to face Brazil in Beijing next week and have now confirmed that Renard has left his post with immediate effect.
A short statement from the Football Association of Zambia read: "FAZ and Herve have consulted and it has been agreed not to stand in his way.
"It is a compliment for a coach working in Africa to be head-hunted by a top European club. It makes us proud to be able to take ownership of Herve's rise as a successful international coach.
"FAZ wishes to thank Renard for his dedication to duty, hard work, proficiency and wish him well as he takes up his new coaching job."
Renard's first game in charge at the Stade Bonal will come next weekend in a clash with early-pace setters Monaco.