With the club just two points clear of the relegation zone, Hannover opted to sack Korkut on Monday after going winless thus far in 2015.
Having taken charge in December 2013, Korkut guided the club to a 10th-place finish at the end of last season but Hannover struggled badly this term and have won just seven of their 29 league matches.
Former Borussia Monchengladbach and St. Pauli coach Frontzeck will be the man tasked with keeping Hannover up - agreeing a contract until the end of the campaign.
"Michael Frontzeck has our full confidence as the new head coach to lead the team away from relegation," president Martin Kind said in a statement.
"His only goal in the remaining games is to keep Hannover 96 in the Bundesliga."
Former Germany international Frontzeck's first game at the helm comes against Hoffenheim at the HDI Arena on Saturday.
