The 40-year-old has experience of English football during his playing days, spending two years at Leeds United before moving to Sheffield United.
Ribeiro moved into management with hometown club Vitoria Setubal in 2011 and has since coached in the Champions League qualifying rounds with Bulgarian side Ludogorets Razgrad.
"I'm very happy, my ambition was to come to England and now to come to Port Vale," he told the club's official website.
"It's a big club with good conditions. I believe this is a Championship club and I am very happy here and I will do my best."
Chairman Norman Smurthwaite added: "I'm very pleased to be able to appoint Bruno as the club's new manager. It has been a long, extensive process but I'm absolutely certain we have the right man for the job."