Defender Billy Jones will return to Exeter after agreeing personal terms and passing a medical at St James Park.
The 26-year-old made 90 appearances for the Grecians between 2005 and 2007 before moving to Crewe.
Jones fell out of favour at Gresty Road in the second half of last season despite starting the campaign as club captain and is now out of contract.
The deal is set to be completed next week once Jones' agent returns from holiday.
Meanwhile, young Grecians goalkeeper Matt Armstrong Ford has re-signed for another year.