The new Bairns boss left a role as first-team coach at Aberdeen to replace David McCracken and Lee Miller at the League One club.
Sheerin has however, had more recent top-flight management experience and took the reigns at Aberdeen between the departure of Dons boss Derek McInnes and new manager Stephen Glass taking over.
He will begin his new job next week and said: “I’ve been impressed with the board’s vision for the club and the fantastic infrastructure at the Falkirk Stadium, both in facilities and the expertise of staff.
“There’s great potential at this club and we need to put the disappointment of the last few seasons behind us and look forward. The only way out of League One is a combination of hard-work and attacking football that I know I can deliver here.
“Preparations for the season are well underway and the players we have lined-up for this season are of a quality that I believe can win us this league. However, you have to earn everything you get in football and from day one I will be demanding high standards in everything we do to get this football club back where we all want it to be.”
Sheerin will be operating within the Bairns structure under sporting director Gary Holt who led the search for a new boss after co-managers Miller and McCracken were sacked with the Bairns losing their place at the top of League One.
The club then slipped further and failed to make the promotion play-offs, finishing fifth in the third tier – a position which led to an apology from the board of directors.
Chairman Gary Deans welcomed Sheerin to Falkirk and added “the lengthy, rigorous process” and due diligence took “that bit longer to conclude”.
He added: “As supporters would rightly demand we considered a number of criteria and scrutinised well over 100 candidates for the role. With the support of Gary Holt, we have a head coach we believe can deliver the success directors, staff and most importantly supporters deserve.
“We are under no illusions that the road back for Falkirk will be a difficult one but in Paul we have someone who can lead us on that journey.”