The 35-year-old makes his return to Wakefield, nine years after leaving the club for Huddersfield Giants - where he has been since.
The deal between the two clubs sees full-back Scott Grix return to Huddersfield after two years at Wakefield.
Brough admitted that he has "unsettled business" at Belle Vue and has agreed a deal to keep him at the club until the end of 2020.
"I am over the moon to go back to where it started, I have had a long and positive chat with Michael Carter and Chris Chester over the past few weeks," he said.
“I have a lot of unsettled business at Wakefield and I owe a lot to the fans after my previous spell at the club.
"I am looking forward to the new challenge, it is a new environment with a great set of lads and I cannot wait to knuckle down and get stuck in with the boys.”
Brough moved up to sixth in the all-time leading scorers list last season.
He won the Albert Goldthorpe Medal in 2008, while at Wakefield.
The Scotland international made 57 appearances for Trinity between 2008 and 2009, scoring 19 tries and kicking 203 goals.
"I’m personally delighted to finally get Danny Brough back in the red, white and blue of Wakefield Trinity," added head coach Chris Chester.
"Having been made aware of Danny’s availability, we jumped at the chance to bring him back.
“Danny brings a wealth of experience and without doubt the best short and long kicking game in Super League.
"Game management was a big issue at time last year and by bringing Danny in, we are hoping those close losses can turn into wins and help us challenge the top four in 2019.”
Grix will return to Huddersfield where he spent seven seasons between 2010 and 2016.
On his departure the 34-year-old said: “My family and I would like to thank Michael (Carter), the staff, players and fans for another great stint at the club.
"I have enjoyed being part of the club's recent progression and wish every the best going forward."