It was announced on Thursday that Bassett, 66, has been appointed on a consultancy basis, to the request of Blades boss Micky Adams.
Bassett will offer a helping hand to Adams, who is currently trying to steer United out of the drop zone of course.
The Blades manager gave plenty of reasoning behind the move to bring back a man who knows all the ins and outs of being the manager of Sheffield United.
He said: "I wanted it to happen and have been thinking about it for a while because he will reduce my workload and leave me time to concentrate on specific things," said Adams, adding:
"I didn't realise just how big this club is when you are the manager, there just aren't enough hours in the day. At Port Vale I had about three phone calls a day - and one of those was from the missus asking what time I would be home for tea!
"Dave is a legend here and he wants to come back and help us retain our Championship status which is fantastic news for us and the fans."
Adams went on to outline the responsibilities Bassett will be asked to oversee. He said: "I don't expect him to be at the training ground every day.
"He is at the stage where he can enjoy his life but he will be of enormous help in dealing with talking to other managers, arranging travel, scouting players, talking tactics and the like - anything that will be of help to me.
"He has fantastic contacts at home and abroad.
"We won't see 'Harry' on the touchline but he will be in the stand at matches for us to chat to at half-time and after the game. And he probably won't be on the training pitch either, although I am sure he will pull the boots on again if I ask him to do something specific.
"Cynics might suggest I have brought him in to take the pressure off him but that's not the case. I didn't know him until went to Forest as his assistant, then he was my Director of Football at Leicester.
"We work well together, trust each other and have kept in regular weekly touch - we are mates."
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