The 28-year-old Elia, who has also played for Hamburg and Juventus, spent the second half of last season on loan at Southampton.
The Dutch club’s technical director Martin van Geel said: “Eljero has expressly chosen to take the sporting challenge at Feyenoord. In recent years he has played at big clubs in major European leagues.
“With that experience and his qualities he will certainly be able to help our team progress.”
Elia joined Southampton on loan in January and made his Premier League debut in a 1–0 win at Manchester United later that month. He scored both goals in the 2–1 victory at Newcastle United.
Elia is a former international and played in the World Cup final in 2010, coming on as a substitute when Holland lost 1-0 to Spain in South Africa.