Guimaraes led Mumbai City FC to top the group standings at the end of the league stage in ISL last year.
He helped the club reach its maiden semi-final where it succumbed to the eventual league winner Atletico de Kolkata, in a closely fought semi-final in December last year, a media release said today.
The 57-year-old Costa Rican retired footballer represented his country in the 1990 FIFA World Cup. He is best known for his achievements as the head coach of the Costa Rica national squad, leading them past the qualifying stages for the 2002 and the 2006 FIFA World Cup.
He was hired by Saprissa, where he worked for several years, winning three national tournaments with them.
Guimaraes has also coached several international teams, such as Comunicaciones of Guatemala, Irapuato and Dorados de Sinaloa in Mexico and tasted success with teams like Al Wasl in UAE & Tiajin Teda in China, the release said.
"We achieved some of the objectives last year by finishing top of the table and reaching the semi-finals but I'd like to continue this project and finish the job I came here for," Guimaraes said.