He will help steer the club for the remainder of the season following the departure of Jimmy Shan on Wednesday.
The Stourbridge boss joins on a temporary basis whilst their league is suspended.
Yates is popular with Moors fans after he led them to a Great Escape in 2017-18.
Yates said: “It’s great to be back. I’ve been asked to come back until the end of the season and I plan to make a big impact.
“We’ve got some good players here and I want to get the best from them.
“The club know me, and I’ve worked with a few of the players and staff before. It was a surprise call but one I was delighted to take.”
Vice-Chairman Tim Murphy said: “We feel that Mark is a solid appointment for the club at this time.
“With his experience we hope he can build on the good work already done this season with the play-offs still firmly in our grasp.”