The partnership will see the music legend provide two students with fully funded scholarships to assist in their ambitions to become professional musicians.
The collaboration, set to last for a year, will also see Morrison performing a series of special live performances across Belfast.
It comes as Queen's marks its 180th anniversary and the east Belfast-born musician prepares to celebrate his 80th birthday.
The Northern Irish singer-songwriter described it a "wonderful opportunity".
"I am delighted to deepen my relationship with Queen's University Belfast and look forward to performing at a number of exclusive events throughout the year," he said.
"This partnership is also a wonderful opportunity to inspire students, celebrate Belfast's rich musical heritage, and give back by supporting the next generation of musicians."
Queen's University Belfast president and vice-chancellor, Professor Ian Greer, said: "Dr Van Morrison is one of the most distinguished musicians of our time, and we are delighted to have him as our 'artist in residence'.
"This initiative will provide invaluable opportunities for our students and the wider community while enriching our cultural offerings.
"As a university, we are committed to providing access to quality education to all students and partnerships such as this are vital to making this happen."
Morrison was awarded an honorary doctorate by the university in 2001 in recognition of services to the arts, and received the freedom of Belfast from Belfast City Council in 2013.
As part of the residency, he will play three concerts at Queen's Whitla Hall later this month, with discounted tickets for students, followed by a series of performances and collaborations throughout the year.
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