Tite, 55, was named Wednesday after ex-coach Dunga was fired for Brazil's humiliating group-stage exit from the Copa America Centenario tournament.
Pele was succinct in his assessment of the new coach on Thursday.
"Tite is reliable," Pele, 75, told reporters. He defended the outgoing coach.
"Dunga is not at all to blame because he did not have time to put together a team," he said.
"The team lost. That happens in football."
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Tite -- real name Adenor Leonardo Bacchi -- is leaving Sao Paulo club Corinthians, with whom he won several titles.
Brazil is battling to find its form in time for August when it hosts the Olympics, where it has never won football gold. The Brazilian Football Confederation named under-20s coach Micale to take over the team temporarily for the Olympics.
Tite will then take the reins, tasked with saving Brazil's qualifying campaign for the 2018 World Cup. Pele spoke to reporters after a ceremony at his Pele Museum in the southeastern city of Santos.
Brazil hosts this year's summer Olympics in Rio de Janeiro from August 5 to 21.