Casey most recently served as head coach of the Toronto Raptors from 2011-2018 where he compiled a 320-238 (.573) regular-season record and led the Raptors to a franchise-record five consecutive playoff appearances, including a trip to the 2016 Eastern Conference Finals.
Casey, who is from Morganfield, Kentucky, played for the Wildcats and helped them win the 1978 NCAA title and began his coaching career the next year as a graduate assistant under Joe B. Hall.
This led to Casey getting fired, even after being awarded Coach of the Year by his peers.
Earlier this year, the Raptors celebrated their 300th win under Casey, who also helped pave the way to their first-place finish in the Eastern Conference.
The Pistons move means that there's only one vacant head coaching job left in the National Basketball Association - with the Raptors.
Casey, who was sacked by the Toronto Raptors after a second-round playoff loss to the Cleveland Cavaliers last month, was selected from a coaching pool that also included MI head coach John Beilein.
Boyd Dies: Former "America’s Got Talent" Winner Was 42
Boyd's high-profile win was so iconic for his hometown that it constituted Sikeston to rebrand October 2008 as " Neal E. Boyd was found unresponsive by his mother at her Sikestown, Mo., home and was pronounced dead at 6:26 p.m.
"Dwane is one of the most successful and highly respected coaches in our league", Pistons Owner Tom Gores said in a statement.
Detroit is rebuilding its franchise, hiring both Stefanski and now Casey to replace former team president and coach Stan Van Gundy.
He coached the Minnesota Timberwolves for a little more than one season, going 53-69.
Detroit has missed the playoffs in eight of the last nine seasons.