Shaun Lunt will return to Huddersfield for 2013 after failing to agree a move to Leeds.
Lunt, 25, spent a large part of last season on loan at Headingley, and starred in their Super League Grand Final victory over Warrington.
He had hoped to agree a deal to remain with the Rhinos, but will now return to his parent club.
Giants Managing Director Richard Thewlis said: “Everyone knows how tough and narrow the market for quality players is so for Shaun to come back is really really good for us. The decision was his to make so for Shaun to now return is excellent news.
“It’s like a new signing in many respects and he returns to us with the experience of playing in the two major finals and winning at Old Trafford. He was always a very popular player here and I am sure that everyone connected with the club will be delighted with this news.”
Head Coach Paul Anderson added: “It will be good to have Lunty back and clearly he will have benefited massively from his experiences at the Leeds club and in particular their ability to win the big games. I see him as playing solely at hooker next year for us working off the back of what space and opportunities the forwards will give him.
“Everyone knows he is excellent out of dummy half and I imagine he is one of the top try scoring nines in the league in his relatively short Super League career to date. I think he still has improvements in his game to come and I am very happy that the Giants fans will be able to see the best of Shaun Lunt in the years to come and he will complement superbly the players already here.”
The Cumbrian, who joined Huddersfield from Workington in 2009, has scored 39 tries in 85 Super League appearances.