The former Bomber fullback, was named acting CEO in August and made the firing of general manager Joe Mack his first order of business.
The appointment was announced Tuesday by the club's board of directors.
Miller said he "won't rest" until he turns around the struggling team, which won three games this season and is 30-60 over the past five years.
“This club is in my blood,” Miller stated in a news release, “and I won’t rest until I set things right with fans and that means putting a competitive product back on the field that is capable, in the years ahead, of restoring the pride in this once storied franchise.
"That is what we owe our fans and that is what I’m 100 per cent committed to doing.”
Since being handed the reins in August, Miller "has proven himself to be a strong, progressive leader with the right combination of football and business experience to succeed in this important role," board chair Brock Bulbuck stated in the release.
“[Miller] is a decisive, solution-oriented leader who isn’t afraid to roll up his sleeves and get down to the hard work of turning the club around. We have seen that from the very first day he was appointed and we have every confidence that he will continue to make the kind of change that will position us with a competitive team and successful business office well into the future.”
Bulbuck also credited Miller for being a team player both inside and outside the club.
“Wade was instrumental in securing the support of both the city and province as part of the WFC’s recent bid to land either a 2015 or 2016 Grey Cup. As he moves forward, we know he’ll also strengthen relationships with fans, alumni, sponsors and the community-at-large and we look forward to seeing him in action in the years to come.”
Miller appeared in 167 career games over 11 seasons with Winnipeg. He remains the franchise leader in special-teams tackles with 184 and is a member of the team's Hall of Fame.