The Chilli Boys on Saturday morning announced the departure of Moloi following the Port Elizabeth side's woeful run of form, which was highlighted by the 2-0 loss to Cape Town City on Friday.
Chippa have since confirmed the return of Heric, who first coached United in the 2013/14 National First Division campaign, winning the league and leading them to promotion to the Absa Premiership.
Chippa announced the news on Twitter, posting:
Vladislav Herić has been appointed as the new coach of Chippa United with immediate effect, until the end of the season with an option to renew.— Chippa United FC (@ChippaUnitedFC) March 3, 2018
Herić was Head Coach when Chippa United were promoted to the Premier League during 2013/2014 season.
Heric has also previously overseen Maritzburg United, Polokwane City, FC Cape Town, while he was most recently youth coach at Ajax Cape Town.