"I am so excited to be in Philly and honored to be the head coach at Temple University," Diaz said in a statement. "I can't wait to get in front of our Temple TUFF guys and then to get on the road recruiting. I am looking forward to bringing in a great class of guys that want to take Temple to the next level."
Negotiations between Temple and Diaz ramped up Wednesday. Temple also had talked with Texas A&M defensive coordinator Mike Elko about its vacancy, but Elko on Wednesday morning elected to remain with the Aggies for a second season, sources told ESPN.
Diaz, 44, takes over the Temple program from Geoff Collins, who left last week to become head coach at Georgia Tech. Diaz has spent the past three seasons at Miami, which leads the nation in pass defense, ranks second in yards allowed, third in yards per play allowed and 15th in points allowed.
"We are thrilled to have Manny lead our football program," athletic director Dr. Patrick Kraft said in a statement. "After spending time with him, I understand why he has had tremendous success as a football coach and why his players are so devoted to him.
"We are in complete alignment about the values on which we run our athletics programs, the high expectations we have for our teams, and how we will conduct ourselves as representatives of Temple University. I am supremely confident that Manny will build on our past success and take us to even greater heights."
Diaz previously had served as defensive coordinator at Mississippi State, Louisiana Tech, Texas and Middle Tennessee. This is his first head-coaching opportunity. He is a Miami native -- his father, Manny, served as mayor of Miami from 2001 to 2009 -- who attended Florida State and began his coaching career with the Seminoles.
"In his three years in Coral Gables, Manny proved to be one of the top assistant coaches in the country and did an unbelievable job leading our defense," Hurricanes coach Mark Richt said in a statement. "I have no doubt that he will experience great success as a head coach."
Temple's past four coaches -- Collins, Matt Rhule, Steve Addazio and Al Golden -- all moved on to Power 5 jobs after having success with the Owls, who are 41-24 since 2014.