Brookbanks was previously in charge for 14 years, achieving five promotions, and he returns to the EVO-STIK League East Division after leaving Basford United.
He will also be re-united with Mark Harvey, who is returning to the club too.
A club statement said: “The club understands that the duo will enhance opportunities for the clubs youngsters and work closely with the Academy, as well as seeking to bring in new signings they are determined to play football that is easy on the eye for supporters.”
Brookbanks has been vice chairman and director of football at Basford.
He replaces Wayne Scott, who left the club after four years at the end of the season.