Mark Trueman and Conor Sellars will be in interim charge of Bradford until further notice, the West Yorkshire club have announced.
The duo took over earlier this month following the sacking of Stuart McCall.
The Bantams had lost six league and cup games in a row prior to McCall's exit, and were in danger of becoming the first club to have played in the Premier League to have then dropped out of the EFL.
However, under Trueman and Sellars, Bradford have taken 10 points from a possible 12 and are currently 18th in League Two.
Bradford chief executive Ryan Sparks said: "Mark and Conor have done a tremendous job in turning around our fortunes over the past two weeks.
"It is important they, our supporters and our partners have clarity, and we feel this provides it.
"Mark and Conor fully understand what we are trying to build and are excited about playing a big part in that.
"This is undoubtedly a huge opportunity for them. It is one we feel is dignified and respectful of what they have given us since the middle of December.
"They have improved our position, and we have taken steps to improve theirs – ensuring their futures are secure."
Sparks said Trueman and Sellars would have the club's "full support" going into the January transfer window.
He added: "They will have the final say on who comes and goes at the Utilita Energy Stadium and have important resources at their disposal."