Hunt was previously in charge of the club for six years during which he won three league titles and makes a return nine years after he left.
Matsatsantsa finished off the past season with Andre Arendse as caretaker coach following the sacking of Kaitano Tembo.
Hunt has been out of a job since November last year when he was sacked by Chippa United.
He was also shown the door at Kaizer Chiefs who he joined after seven years at Bidvest Wits.
Should he return to SuperSport, Hunt will work with Arendse as his second in command as the club plots the way forward.
SuperSport United will kick off the new season in the MTN8 after finishing in position eight last season.
According to sources, Hunt has agreed on his deal with SuperSport with only the finer details being ironed out this morning ahead of his announcement.
Though he has been without a job in the last eight months, Hunt remains the longest-serving coach in the PSL.