The 43-year-old has been promoted to the role in line with Carl Stabler’s switch to director of football at Nyetimber Lane.
Price has been assistant to Stabler since the pair moved from Wick and feels ready for the higher-profile role, which starts with him trying to guide the Lions to a cup-final and a top-two finish in the Sussex League division one.
Price said: “It was always in our plans for me to become first-team manager and I can’t wait.
“I’ll have Daren Pearce as my assistant – we’ve known one another since we were about five years old. Our first aim is to finish the season as strongly as possible.”
Pagham started the campaign with 14 straight league wins but have since slipped to fifth, but Price said finishing in the top two, which could mean promotion to Ryman one south, was not yet beyond them.
They also have a John O’Hara Cup semi-final against AFC Uckfield next Tuesday to look forward to.
Price said: “As a club we are working towards getting into the Ryman League, whether that is this summer or in the future. It’s where we want to be.
“We have a good squad and reserve and youth set-up and some excellent players coming through.”
Price, a central defender, was on Brighton’s books and played for their youth team and reserves before an illustrious non-league playing career with Bognor, Havant, Newpoort IoW and Eastbourne Borough, finishing at Selsey, where he got into coaching.
His first game is at home to St Francis on Saturday.