The Ligue 1 club have moved quickly to replace Fernandez, who stood down following Wednesday's 2-0 loss to Lorient, with a man who coached them between 2007 and 2009.
"Rolland Courbis is to join the club on Monday," Montpellier announced on their official website on Saturday.
"He is expected to commit for a period of two and a half years. More details will be coming on Monday."
Courbis secured promotion to the French top flight in his last spell with the club, having also had spells with Bordeaux, Lens and Marseille, among others.
In 2009, the 60-year-old was handed a prison sentence for his involvement in financial irregularities relating to his time at Marseille
Pascal Baills, a former player and assistant coach at the Stade de la Masson, will take charge for Sunday's visit to Toulouse as the 17th-placed club seek their first win in five league matches.
