Peters is no stranger to Steel Park, first as assistant before taking temporary charge in 2013.
Mark was also the manager of the under 19s team that made it through to the 3rd round of the FA Youth Cup before falling at the hands of Manchester City.
Mark was most recently at Mansfield Town in the role of Head of Academy Coaching.
Peters takes charge of his first match in his second stint as manager when the Steelmen travel to Kempston Rovers.