Veron, whose signing was confirmed on Wednesday on Estudiantes website, became chairman of the Argentine top flight club after earlier retiring in 2014 from the same club.
The former Chelsea midfielder signed an 18-month contract which will see him play for free.
According to Estudiantes, Veron's salary will be 'donated to the promotion of the activities and disciplines of the club'.
Veron signed for United in 2001 but following an uneventful stay at Old Trafford, he moved to Chelsea in 2004.
Aside from United and Chelsea, Veron also featured for Parma, Sampdoria, Lazio and Inter Milan in the Italian Serie A.
And at international level, Veron appeared in three FIFA World Cups (1998, 2002, 2010) with Argentina.
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