Ryan Harley has signed for Exeter City after his contract at League One club Swindon Town was cancelled.
The 29-year-old midfielder making seven appearances, with a view to a permanent transfer.
BBC Sport understands he has agreed an 18-month deal.
He becomes the third former loanee at St James Park to sign a deal this month after both committed themselves to the club.
Harley played for the Grecians between 2008 and 2011, scoring 32 times in 144 appearances as City won back-to-back promotions from the Conference to League One.
He joined Swansea in January 2011, but was loaned to Exeter for the rest of that season.
Harley never played for the Swans and before
Meanwhile, Exeter are to offer ex-Republic of Ireland striker Clinton Morrison a contract to stay at the club.
The 35-year-old has made six appearances for the Grecians since and started three of the last four games.
"I'm looking to keep him here," Exeter manager Paul Tisdale told BBC Radio Devon.
Morrison, who was released by Colchester at the end of last season, had previously suggested that he was leaving the club.
"I've enjoyed my time at Exeter, great manager, players & fans. Wish I'd played more but took time to get match fit," he said on 3 January on Twitter.