The sacking of Ronald Koeman in October has not produced the desired effect, with Everton recording one win, one draw and five defeats in all competitions since Unsworth took over.
Eventually Allardyce, who left Crystal Palace at the end of last season, became the frontrunner and he joins despite insisting in the past that only an worldwide job would bring him back into management.
The former England manager, who left Crystal Palace after saving the club from relegation at the end of last season, has also been on the hit list of West Brom, but the 63-year-old has distanced himself from the job.
When asked about Allardyce, Unsworth said: "Sam is a top manager, but I think it would be wrong of me to talk about individuals.I have seen the names that have been bandied about - all top managers".
At that time, Allardyce stated that he had "no ambitions to take another job".
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Can Allardyce get Everton going?
"The attraction of the club itself, the people I've known at the club - Peter Reid is one of my best mates, so are Andy Gray and Paul Bracewell whom I worked with at Sunderland", The new Everton boss said.
After years of being unable to come close to matching the financial clout of the Premier League's big guns, Everton finally had significant backing thanks to new owner Farhad Moshiri.
"I have no ambitions to take another job", he added at the time, "I simply want to be able to enjoy all the things you can not really enjoy with the 24/7 demands of managing any football club, let alone one in the Premier League".
However, Allardyce did watch his side dismantle West Ham 4-0 at Goodison Park on Wednesday night, courtesy of a Wayne Rooney hat-trick, so there is reason to be optimistic. He will oversee the team's Saturday fixture against Huddersfield.
Further forward, Allardyce will need to get Everton scoring more, something the team has struggled to do since selling Romelu Lukaku to Manchester United for 75 million pounds ($97 million) during the summer.
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