Rhodes, 31, who netted 87 goals in 148 games in a predatory spell at the club between 2009 and 2012, has completed a return to the John Smith’s Stadium after agreeing a contract from July 1 that runs until the summer of 2024.
The frontman left Town to join Blackburn Rovers in an £8m deal in August, 2012 and after a prolific three-and-a-half seasons at Ewood Park, he joined Middlesbrough in early 2016 and scored some key goals in the club's promotion to the top flight in 2015-16.
But after being restricted for opportunities in the Premier League, Rhodes linked up with the Owls - initially on loan before completing an £8m move in July 2017.
Rhodes endured an underwhelming spell at Hillsborough - with his time interrupted by a season-long loan at Norwich City in 2018-19 - and has now elected to return to familiar surroundings at the John Smith's Stadium.
The arrival of Rhodes follows on from the addition of Luton Town defender Matty Pearson, with the forward assigned with revitalising a career which was laden with goals before his move to Wednesday.
Town head coach Carlos Corberán commented: “We are really happy to add Jordan to our squad; he’s a very intelligent striker that has a lot of experience and a very good record in this division.
“When a player wants to come back to a club, it’s because he feels close to the supporters and that there’s something special to him about being a Terrier.
“As a striker, he gives us a lot of options and has the skillset to compliment the other forwards we have in our team. He makes clever runs, will fight in the air, help with the build phase, and is sharp in front of goal.”
On the move to bring Rhodes back to West Yorkshire, Town’s Head of Football Operations Leigh Bromby added: “Speaking to Jordan, it is clear that he had a real desire to come back to Huddersfield Town somewhere he considers as his home, and that he wants to recapture his best form.
“There’s no doubt that he has a history of scoring goals and had a great record at Huddersfield Town. One of his biggest ambitions is to score 100 goals for the club and he knows he’s only 13 away from reaching that impressive milestone."