The former Super Eagles defender, stunned Chelsea by his decision to quit as technical director earlier this month after 10 years at Stamford Bridge.
“This is a wonderful opportunity for me in a high-quality project,” he said.
“AS Monaco has shown great progress for several seasons and I am convinced that the future will be just as ambitious.
“Vadim Vasilyev’s willingness to see me join AS Monaco was decisive and for me, the choice was natural after my decision to leave Chelsea.”
The former international player from Nigeria, 52 years old, has previously managed this position in Chelsea, where he was a key member.
During his time in London, Chelsea won three Premier League titles, three FA Cups, the League Cup, Europa League and of course, the Champions League in 2012.
In this period, the club signed key players such as Eden Hazard, Thibaut Courtois, and N’Golo Kanté.
Michael Emenalo also assisted in driving the technical programmes of Chelsea Academy and international network, building one of the best academies and leading the U19 to win two times in a row the Youth League (2015, 2016).