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Cameron has been in the interim head coach position since 2019, when Paul Henare resigned, and has been contracted to the role fulltime through to September 2024.
The appointment will mean the Tall Blacks great will return to New Zealand after 14 years living on the Gold Coast.
“It’s an honour to be named head coach of the team that means more to me than any other," Cameron said.
"I have dedicated my adult life to the black jersey, and I am immensely proud to be taking the next step in my Tall Blacks journey.
“It’s also exciting to be coming back home to New Zealand on a more permanent basis. Basketball in New Zealand has developed significantly over the last five years and the depth of talent has built year on year.
"I’m absolutely committed to this team and the job I’ve been entrusted with."
With the 2023 World Cup and the 2024 Olympic Games in Paris the ultimate goals, Cameron is under no illusions about the task ahead.
“The world is in a challenging space right now, and we will do our best to navigate the path as best we can."
Basketball New Zealand head of high performance Leonard King said nobody knew the Tall Blacks better than Cameron.
“Pero has been an anchor for the Tall Blacks programme for well over two decades," King said.
"He embodies the tu kaha culture and truly understands what it means to represent New Zealand.
“He has made a successful transition from a long, storied, and highly successful playing career to an international coaching career, where he has displayed an incredible aptitude for identifying players’ and coaches’ strengths and placing them in positions where they can be successful."
Cameron played for the Tall Blacks a record 227 times from 1993 to 2010, captaining the team in 170 games, and became the first New Zealander to be inducted into the Fiba Hall of Fame in 2017.
After retiring from playing, he served as Tall Blacks assistant coach from 2011 to 2019.