The club announced Lisci as their new head coach on a two-year contract, luring him away from Segunda Division side Mirandes where he had engineered an against-the-odds run to the promotion play-off finals.
The appointment ends weeks of speculation about Vicente Moreno's successor. Moreno announced he would be leaving the club last month after being in charge for a year.
Lisci inherits a side that have firmly established itself in Spain's top tier, with Osasuna narrowly missing out on European qualification after securing a respectable ninth place finish this season.