Troisi, 28, rejoins Victory on a one-year deal ahead of the 2016/17 season, the club confirmed on Monday.
The attacking midfielder returns to the A-League after six months in China, where he played alongside countryman Michael Thwaite at Liaoning Whowin.
"When the opportunity was presented to return to Melbourne Victory, I didn't hesitate," said Troisi.
"I have extremely fond memories of my time at the club. The support I received from the coaches, my team-mates and the fans was outstanding, and I can't wait to represent the club again.
"I enjoyed my time overseas and now I'm back to help Victory achieve more on-field success."
Troisi spent a season on loan at Victory in 2013/14, helping the side reach the semi-finals of the A-League with 12 goals in 29 appearances.
He was then fully acquired by Italian champions Juventus, where he was sent on loan to Zulte Waregem in Belgium and then Al-Ittihad in Saudi Arabia, before moving to China in January of this year.
Troisi scored the winning goal in extra-time when the Socceroos defeated South Korea 2-1 in the 2015 Asian Cup final.
"James is a quality player and individual, and we're thrilled to welcome him back to Melbourne Victory," said Victory coach Kevin Muscat.
"We've seen the level of football he has produced in the A-League and it'll be exciting to see him back in our colours this season.
"James has built a strong resume playing at clubs all over the world, which has made him a more accomplished player, and we're looking forward to him applying that experience at Victory."
This article was originally published at: http://www.footballaustralia.com.au/article/asian-cup-hero-james-troisi-returns-to-melbourne-victory/39rb07h86xll140ckwyk1asq0.