Risdon had been linked to the club since parting ways with Western United in early May, with Wednesday's announcement coming as no surprise.
The 31-year-old played more than 140 league games and appeared in one grand final between 2010 and 2017 for Perth, before becoming United's first Australian signing.
Risdon had captained the expansion club to their one and only championship in 2021-22, amid Alessandro Diamanti's injury.
The former Socceroos regular, who played at the 2018 World Cup, says a change in club ownership was one of the reasons he chose to return to Perth.
Glory went into receivership last July when long-time owner Tony Sage handed back the club's licence amid financial troubles.
The club endured a turbulent season on and off the field, claiming the 2023-24 wooden spoon after 15 losses, before property tycoon Ross Pelligra bought the club in February.
"I'm so excited to announce my return to Perth Glory, the club where my football journey began," Risdon said on Wednesday."As someone born and bred in Western Australia, it's an incredible honour to come back home with my family and represent Glory once again."With the new ownership steering the club into an exciting era, I am fully committed to working tirelessly to bring back the glory and success that our members and fans deserve."
Risdon, who debuted for Perth in 2010, spent two seasons with Western Sydney after leaving Glory in 2017, before moving to Western United.He has now made a total of 260 league appearances.
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