Hathurusingha previously coached Bangladesh from 2014-2017, leading them to their first one-day international series victories over Pakistan, India and South Africa while they also reached the 2015 World Cup quarter-finals.
Bangladesh also notched up maiden test wins over England, Australia and Sri Lanka before Hathurusingha resigned and took over as Sri Lanka's head coach in 2017.
He will take up his duties with Bangladesh next month.
"It's an honour to have been given this opportunity to coach the Bangladesh national team once again," Hathurusingha said in a statement.
"I really loved the warmth of the people and the culture of Bangladesh whenever I have been there. I'm looking forward to working with the players once again and enjoy their successes."
Bangladesh are scheduled to host England in two white-ball series starting on March 1st.