He replaces Mats Wilander, who retired earlier this week.
Enqvist played for Sweden between 1995 and 2004, winning 15 of 26 matches, and was a member of the cup winning teams in 1997 and '98 and also played in the 1996 final.
Story continues below ↓advertisement | your ad hereEnqvist said that he hoped his experience would help the team.
Recalling his time playing for Sweden he said that he had "fond memories" and in particular that "it was special to beat the United States 5-0 with Pete Sampras on the team (in 1997)."
Enqvist won 19 titles on the ATP Tour and reached one Grand Slam final - losing the 1999 Australian Open to Yevgeny Kafelnikov.
Sweden, which has won the Davis Cup seven times, will host Argentina in a first-round World Group tie on March 5-7.
Wilander, who won three of four Grand Slam singles titles in 1988 and finished that year ranked No. 1, led Sweden to the Davis Cup semifinals in 2007 and the quarterfinals three times.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Raul delighted with recordWilander quits as captain of Sweden Davis Cup team