Deedes, who retired from the Telegraph last year as managing director and was replaced by Hugo Drayton, returns with immediate effect. When he left the Telegraph last year it was after a career that spanned 40 years in newspapers, including seven years as managing director and 22 as a journalist.
In a statement Hollinger said Deedes will oversee the management of the group at least through the conclusion of the sell-off of the titles.
Deedes replaces Lord Black's number two Dan Colson who will stand down from all management positions at Hollinger International and its subsidiaries, although he will remain a director of Hollinger International.
Gordon Paris, interim chairman and chief executive officer of Hollinger International, said: "Jeremy's knowledge of the group and his perspective on the industry are invaluable assets. He is perfectly suited to assume leadership of the Telegraph Group, and to look after the interests of our staff, our readers and the shareholders of Hollinger International."
He added: "Jeremy will assist the Corporate Review Committee as it reviews potential options for the Telegraph Group arising from the strategic process, and we look forward to his counsel."
Deedes, 60, said he was not the first Deedes to be brought out of retirement to help safeguard the Daily and Sunday Telegraph -- a reference to his father Bill Deedes, a former editor and columnist at the paper.
"It is a great honour at this crucial time in the history of the Telegraph Group. I know that our group's principal asset is its staff and our first task is to work around the distractions of the strategic process that is currently under way. We must continue to produce the best possible newspapers and look after a readership that is the envy of our rivals."
Colson, whose exit had been widely predicted, stands down after 10 years as chief executive of the Telegraph Group. He said that as the deadline to submit bids under the strategic process has passed, it was the appropriate time for him to go.
"In particular, my more than 10 years as chief executive of the Telegraph Group have provided a unique opportunity to work with some of the most talented people in the newspaper industry. I will always be proud of the way in which we worked together to build and expand our titles, consolidating and enhancing the group's reputation for innovation and a journalistic excellence built on sound commercial foundations," he said.
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