Santos have confirmed that Robinho has re-joined the club on a one-year loan from AC Milan.
Robinho began his career at Santos and, while he left for Real Madrid in 2005, he returned for a second spell in 2010 when he was loaned by Manchester City ahead of the World Cup.
Santos president Odilio Rodrigues said on Thursday that it represented "a moment of great happiness" to bring the Brazilian back for a third spell.
Rodrigues added on the club's official website: "He has technical qualities that will give us a stronger, more competitive squad."
The forward -- who had been linked with a move to MLS -- said he was delighted to be back.
"I wanted to thank the board for their confidence, and the affection from the fans," Robinho said. "I'm home -- it is the club that reared me for football, for the world, that made me realise my dreams."
Santos sporting director Andre Zanotta said the negotiations had been "difficult" but was happy to have secured a deal, adding: "When we started the discussions, we knew the player's importance for the club and for the fans."
Robinho could make the first appearance of his loan spell against Corinthians on Sunday if the documentation is completed in time.