Caldwell came through the academy ranks on Tyneside between 1997 and 2001 before going on to enjoy spells at Hibernian, Celtic and Wigan.
The retired central defender then stepped into full-time management with the Latics in 2015, where he added a League One promotion and an LMA Manager of the Year award to his CV.
He’s also managed Chesterfield and Patrick Thistle but now takes charge of Newcastle’s young guns while an external recruitment process is carried out.
'Should have been sent off' - Sunderland fans fume at Ilias Chair as QPR goalkeeper Seny Deng scores
Sunderland 2 QPR 2: Highlights after Seny Dieng’s equaliser plus Ross Stewart and Ellis Simms goals
'Sublime': Phil Smith's Sunderland player ratings after Seny Deng's late equaliser for QPR
Championship news: Sunderland’s rivals set to lose striker as Leicester City sign goalkeeper amid Daniel Iversen speculation
Sunderland boss Alex Neil issues worrying Dan Ballard injury update and explains his Luke O'Nien call
Caldwell, an ex-Scotland international, replaces Chris Hogg, who left to take up the assistant manager role to Liam Manning at third-tier outfit MK Dons.
The 39-year-old will be in attendance when the second string host Reading in Premier League 2 at Whitley Park tonight (7pm) before taking charge of the trip to Birmingham City next week.