"I arrive at the club with a clear understanding of the issues that need to be addressed and the hard work required to make the club sustainable in a difficult market," said Butler.
“We are embarking on a change of approach and I feel he is the right person to lead the club into a bright future”
Chairman Peter Johnson is seeking new investors and wants to give supporters a greater say in how the club is run.
"But I am confident that with the backing of fans and Wirral businesses, this club will be able to thrive without having to rely on Peter's generosity," Butler told the club website.
Butler, a journalist who has worked for a number of national newspaper titles and the BBC Sport website, has run a media business for the past 15 years and will begin his new role at Prenton Park on 7 April.
In an interview with BBC Late Kick Off North West last month, Johnson said he was close to relinquishing control of the side and to announcing new owners, but he revealed before Saturday's 0-0 home draw with Carlisle that the sale had fallen through.
Michael Wilde a Wirral based property developer was is in talks to buy Tranmere - a deal that would have seen former Chelsea defender Albert Ferrer installed as head coach.
Rovers chairman Peter Johnson has been in discussions with a number of interested parties, including ex-Southampton chairman Wilde.
In a statement, Wirral-born property developer Wilde said the pair had been "unable to conclude an agreement".
On appointing Butler Johnson said: "I have been very impressed with Jeremy's vision for Tranmere Rovers and believe he brings a great array of business skills, as well as energy and passion to the club," said the 74-year-old.
"We are embarking on a change of approach and I feel he is the right person to lead the club into a bright future."