Rojas was unveiled by Victory on Thursday with the All Whites signing on for two-years with the three-time A-League champions.
"This is another significant signing for our club as we continue to prepare for the new A-League season," Victory head coach Kevin Muscat said.
"We all know the quality Marco possesses. We're excited to see him return to Victory and I'm sure our fans will welcome him back."
Rojas, who was born in New Zealand, made the switch to Victory in 2011 after making his A-League debut for Wellington Phoenix.
He made a total of 50 appearances for Victory, winning the Johnny Warren Medal as the league's best talent in 2012-13.
The 24 year-old put A-League clubs on high alert after his contract with German side VfB Stuttgart was terminated on Tuesday.
The press in his native New Zealand immediately urged Rojas to return to Wellington Phoenix, the club where he made his debut, but he ultimately chose to come back to Victory.
After a much-talked departure, the forward failed to make an impression in the Bundesliga after joining Stuttgart in 2013, failing to make a single first-team start.
He ultimately managed just four matches with the club’s reserve team, who play in the third division.
Rojas spent most of his time on loan, spending the early part of 2014-2015 with second division side SpVgg Greuther Fürth, before joining Swiss club FC Thun.
It was at Thun where Rojas was able to make a significant impact, playing 37 matches and scoring four goals in an 18-month period.
But after being told he was surplus to requirements at Stuttgart in recent weeks, despite having a year to run on his contract, Rojas was allowed to seek a new home.
Victory coach Kevin Muscat couldn’t snap the "Kiwi Messi" up quickly enough, having enjoyed a front-row seat during Rojas’s first spell with the club.
Having also re-signed fan favourite James Troisi, after an ill-fated stint in China, the acquisition of Rojas will catapult Victory back into title contention, having successfully replaced the void left by Gui Finkler and Kosta Barbarouses, who have both joined Phoenix.