Cannavaro won the World Cup with Italy as a player, captaining his country to the title in 2006, but his record as a coach is more mixed.
His most recent job was with Dinamo Zagreb but that was a short-lived spell of less than four months that ended in April.
"The Uzbekistan Football Association has signed a contract with Fabio Cannavaro - a renowned specialist, one of the best defenders of his generation," the statement said.
The 52-year-old has previously had coaching roles with clubs in China and Saudi Arabia as well as in Italy. He also had a short spell as caretaker manager of China in 2019.
He will succeed Timur Kapadze, who was in charge in June when the Central Asian country qualified for the World Cup for the first time.