Tal Ben Haim has signed a two-year deal with Maccabi Tel Aviv.
The 33-year-old defender and Israel national team captain is returning to the club that he left in 2004 to launch his successful Premier League career in England.
He said: "I feel that now is the right time to come home and to come back to Maccabi.
"As soon as Maccabi manager Jordi Cruyff spoke to me on the phone with his determination, it didn't take long for him to persuade me.
"This is where I played from age six and if I was going to play in Israel it's only for Maccabi."
Ben Haim played for Bolton from 2004 to 2007 before moving to Chelsea. He then had spells with Manchester City, Sunderland, Portsmouth, West Ham, QPR and Standard Liege before dropping down to the Championship last season with Charlton.
Ben Haim said: "Maccabi is now run like a top European club and one target next season is qualifying for the Champions League group stage."
Maccabi also has Israeli international striker Tal Ben Haim on its books, which will make life confusing for commentators with two players of the same name in the same team.