Jose Antonio Camacho has been re-appointed coach of Benfica, according to a source at the former European champions.
The appointment of the Spaniard is likely to be made official today, said the source who declined to be identified.
Earlier yesterday, the Portuguese club sacked coach Fernando Santos after Benfica were held to a 1-1 draw at promoted Leixoes on Saturday, their opening league match of the season.
Leixoes snatched a stoppage-time equaliser thanks to former Hibernians forward Udo Nwoko after Petit had given Benfica the lead on the stroke of time.
"Benfica have reached agreement with Fernando Santos to end his (two-year) contract," the club said in a statement.
The 52-year-old Santos, who took over after Dutchman Ronald Koeman quit at the end of the 2005-06 season, was the first coaching casualty of the Portuguese campaign.
Camacho helped the team finish second in the league in 2004 during a previous stint in charge.