The Canaries man made 12 appearances for Forest in an initial nine-week spell at the City Ground that came to an end after last month's 2-2 draw with Crystal Palace.
But boss Alex McLeish has boosted his defensive resources by landing the 27-year-old on an extended loan.
Chairman Fawaz Al Hasawi said: "Elliott proved how valuable to our squad he can be during his initial loan spell with us.
"He made it clear he wanted to come back to the club for the remainder of the season and we're delighted to have him here."
Ward said: "It feels good to be back. I've had eight days back with Norwich and was on the bench for their FA Cup tie at Peterborough last weekend.
"But I knew something might happen with Forest and it was just a case of waiting and hoping.
"I'm glad things have been sorted out at Forest because I really enjoyed my initial loan spell with the club."