Luke Walton is the new coach of the Los Angeles Lakers

Luke Walton is going to become the Los Angeles Lakers' new coach, team GM Mitch Kupchak announced Friday night. 

The Lakers have reached a multi-year contract agreement for the Warriors assistant coach to assume head coaching duties in Los Angeles at the end of Golden State's season. 

"We're excited to bring Luke back to Los Angeles, where we feel he's going to start an outstanding coaching career," Kupchak said. "He's one of the brightest young coaching minds in the game and we feel fortunate that he'll be leading the on-court future of our team."

The 36-year-old Walton, who spent most of his 10-year NBA career playing for the Lakers, has made a larger impression as a coach in his second season as the Warriors' top assistant coach. He boasted a 39-4 record as interim head coach in Steve Kerr's absence this season, including a 24-0 start, which is the best in NBA history. 

Walton will replace Byron Scott, who was ousted earlier this week after amassing a 38-126 record during his two-year head coach stint — the worst two seasons in franchise history. 

Walton is also the son of NBA Hall of Famer Bill Walton. 

Walton spent nine seasons as a forward for the Lakers, winning two championship rings as a smart, steady contributor. Three years after his retirement as a player, the Southern California native is back to become the 26th head coach in franchise history.

"I'm incredibly happy for Luke," Kerr said. "As we witnessed earlier this season, he has all of the intangibles necessary to be an outstanding head coach in this league, including a terrific understanding of the game the ability to communicate with a wide range of people. He's certainly ready for this opportunity and I'm confident he'll do a great job with the Lakers once our season is complete."

Walton even finished eighth in the voting for NBA's Coach of the Year award, which went to Kerr.

"I kept waiting for you to change with your success," Warriors GM Bob Myers told Walton directly during Kerr's news conference. "I've seen so many people change with success. I kept waiting for you to become someone else, because you were getting adulation. You were obviously making your own mark. But I never saw ... you waver from your character and who you are and your support of Steve, and knowing that you were just holding down the fort. I just think that's tremendous. That is such a rare quality, to be unaffected and to stay who you are. That was awesome, and I appreciate it."

The Lakers' core consists of recent draft picks D'Angelo Russell, Julius Randle, Jordan Clarkson and Larry Nance Jr. alongside an unremarkable collection of veterans and young players. They also will add a top-three draft pick if they finish high enough in the lottery next month.

The Associated Press contributed to this report.