Keatts has been on Rick Pitino's staff since 2011. The Cardinals have gone to two consecutive Final Four's and won the national title a year ago.
Keatts was also a highly successful prep school head coach at Hargrave Military Academy (Va.), where he was 263-17 in two different stints.
A source told ESPN that a news conference has not been scheduled since Louisville is still playing in the NCAA tournament. The Cardinals play Kentucky in the Sweet 16 on Friday night.
Keatts replaces Buzz Peterson at UNCW. Peterson was 42-82 in four seasons with the Seahawks, including 9-23 and 3-13 in the CAA this past season.