Celades has been deemed surplus to requirements by Real coach Carlos Queiroz and has been shipped out to Les Girondins for the campaign.
The French outfit do not have the option to purchase the Spaniard at the end of the temporary spell but will hope Celades has a similar impact to Savio.
The Brazilian winger spent last term on loan from Real and impressed with his displays but Bordeaux failed to sign the player permanently.
Celades has spent three years at Santiago Bernabeu and will be keen to use his stint at Parc Lescure to boost his prospects upon his return to Madrid.
He has a further two years remaining on his Real contract and the Spanish international is relishing the prospect of regular first-team football in Le Championnat.
"I am very happy because I will be able to play," beamed Celades.
Bordeaux moved for the former Barcelona and Celta Vigo man to bolster their engine room in the light of the impending departures of Alexei Smertin and Camel Meriem.
Russian international Smertin is expected to join Chelsea while Meriem is linking up with Marseille on a year-long loan.
