Though he doesn't have any ties to Arkansas, Morris spent 16 season as a high school coach in Texas along with his three years at SMU, which Arkansas hopes will help them reel in several top recruits from Texas.
Morris inherited a major rebuild at SMU, which went 1-11 the year before he arrived.
Morris has served as the head coach for the SMU Mustangs since 2015 after leaving his offensive coordinator position at Clemson University.
The Razorbacks are looking for a replacement for Bret Bielema, who was sacked last month.
He was the architect of high-scoring offenses at Texas high schools and Clemson before rebuilding SMU's program.
After moving on from Bielema, Arkansas made a heavy play for Auburn's Gus Malzahn, an Arkansas native who played receiver for the Razorbacks. In addition to his three state championships, Morris had three state runner-up teams - at Bay City in 2001 and Elysian Fields in 1998 and 1999.
Steinmetz, approving the coaching hire as chancellor and heading the search hiring Yurachek as vice chancellor/direct of athletics, said of Morris in the press release: "I am confident that he is the right coach to lead us back to competing for SEC and national titles".
The Mustangs qualified for a bowl game this season for the first time since 2012 when June Jones was the head coach for SMU. SMU improved to 5-7 previous year, including a 38-16 win over No. 11 Houston.