PHOTO: AFP
The four-member panel was brought in to replace a previous ad-hoc committee headed by former Test player Aravinda de Silva, which was set up just hours before the team was due to leave for India.
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The World T20 tournament last month saw reigning champions Sri Lanka crash out at the group stages.
Two selectors, Romesh Kaluwitharana and Ranjith Madurasinghe, have been retained in the new panel while the fourth man is Eric Upashantha, also a former player and selector.
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Jayasuriya previously headed the selection panel from January 2013 to March 2015.
"The new (selection) committee will take office on May 1, 2016," Sri Lanka Cricket said in a statement.
Sri Lanka tours England in May and June and will play three Tests, five One-Day Internationals and one T20 match.
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