Stanley have been without a manager since Leam Richardson left to join former boss Paul Cook at Chesterfield at the end of April.
Former Southampton, Everton and Stoke striker Beattie, who joined the club as a player in November, will be officially unveiled at a press conference on Tuesday morning.
A brief club statement read: "Accrington Stanley have appointed James Beattie as first-team manager with immediate effect.
"Further details will appear on the official website later this evening and James will be introduced formally to the press in the morning."
Former England forward Beattie, 35, arrived at the club as player/coach and made 27 appearances this season, scoring seven goals.
The club's managing director Rob Heys revealed at the weekend that both Richardson's assistant Paul Stephenson and Beattie had expressed an interest in the job.
Heys told BBC Radio Lancashire: "We've had around 100 applicants, of which around 40 are what you would call genuine.
"We'll dwindle that down to a shortlist of around seven or eight and conduct some interviews next week.
"We want someone who's going to keep the team spirit going, someone who's going to work very hard with a limited budget and someone who fits in with the general feel of Accrington Stanley."