Wayne Bennett will take over South Sydney Rabbitohs from the 2020 NRL season after agreeing a two-year deal.

England coach Bennett will leave his role at the Brisbane Broncos to take over Souths, with Anthony Seibold expected to head in the opposite direction after stalling over a new deal in Sydney.

During an illustrious coaching career spanning over 30 years, Bennett has won seven Grand Finals and five State of Origin series with Queensland Maroons.

"I'm truly humbled by the opportunity to coach the South Sydney Rabbitohs," said the 68-year-old.

"Souths is one of the iconic clubs in the game. I didn't think I would get this opportunity, but that opportunity has now come for 2020 and 2021.

"I'm really grateful for the chance to be part of the club and I'm looking forward to being part of 'The Rabbitoh Way'."

Rabbitohs general manager Shane Richardson said: "Wayne is one of the best, if the not the best, rugby league coaches of all time and we are excited to see what he can bring to our club.

"Anthony has done a great job at our club over the past two years however his hesitance to extend his contract with us, an offer which has been on the table since June, led the club to explore other options.

"We're looking forward to Wayne becoming a Rabbitoh in 12 months' time and we wish him the best of luck with the England team in their current Test series with the Kiwis."