The 59-year-old’s club, Flamengo, confirmed as much on their official website.
“It's a once-in-a-lifetime opportunity,” Santana says. “To take part in a World Cup is the dream of any professional.”
Santana is believed to have been recommended by Parreira and will take up his position after the May 4 Final of Brazil's Carioca championship.
Flamengo have expressed disappointment at losing their coach, but say they could never match the financial package offered by Safa.
“He said he will earn in 30 months more than he has earned in the last 30 years,” Flamengo vice-president Kleber Leite says. “His dream is to coach at a World Cup.”
The former centreback played for Vasco da Gama during a playing career that lasted nine years. He failed to win an international cap and retired at the age of 32 to move straight into management.
Something of a journeyman, he has coached in the United Arab Emirates, Saudi Arabia and Japan, but never at international level. Somewhat worryingly, he has also coached 14 teams in the last eight years, and 26 in his 27-year coaching career.
Bafana will be hoping he can stay in one place for the next two years at least.
Parreira officially resigned on Monday to return to Brazil to be with his ailing wife, but has agreed to stay on as a technical advisor.
It is understood his assistants, Pitso Mosimane and Jairo Leal, will also remain with the technical team to work with Santana.
SANTANA’S COACHING CAREER:1981-1986 - Al-Wasl (United Arab Emirates)1986-1987 - Vasco da Gama (Brazil)1987-1990 - Al-Hilal (Saudi Arabia)1991 - América (Brazil)1991 - Al-Nasr (Saudi Arabia)1992-1993 - Vasco da Gama (Brazil)1994 - Bahia (Brazil)1995 - Fluminense (Brazil)1996 - Flamengo (Brazil)1997 - Corinthians (Brazil)1997-1998 - Botafogo (Brazil)1998 - Flamengo (Brazil)1999-2000 - Bahia (Brazil)2000 - Botafogo (Brazil)2000-2001 - Vasco da Gama (Brazil)2001-2002 - Coritiba (Brazil)2002-2003 - Vitória (Brazil)2003 - Fluminense (Brazil)2004 - Guarani (Brazil)2004 - Internacional (Brazil)2004-2005 - Vasco da Gama (Brazil)2005 - Brasiliense (Brazil)2005 - Flamengo (Brazil)2006-2007 - Vegalta Sendai (Japan)2007 - Fluminense (Brazil)2007 - Flamengo (Brazil)