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The 40-year-old will reportedly be in charge of the club’s next game against Ebusua Dwarfs in the Ghana Premier League.
Laryea has been asked to step in the role in an interim capacity following the departure of Kosta Papic earlier in the week.
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The Serbian resigned from his role as coach of Hearts, citing constant interference in his work by the some board members.
However, the club’s hierarchy has now moved to replace Papic with Laryea, who is currently having his coaching attachment with Right to Dream Academy.
Meanwhile, Laryea’s elder brother, Richard Kingson, has also joined the Phobians as a goalkeeper’s trainer.
The Phobians are currently on a four-game winless run, with their last win coming on January 17, 2021, against Eleven Wonders.
Since then, Hearts have suffered disappointing defeats to Great Olympics and Medeama, while drawing with Berekum Chelsea and Legon Cities.
The Accra-based side’s poor run of form has seen them drop to 11th on the Ghana Premier League.