The deal gives the Spanish side the option of offering the 26 year old a three-year permanent contract once the loan deal expires.
Just 12 months after completing a £9 million move to Liverpool from Celta Vigo, Aspas is returning to Spain to rebuild his career after making just five Premier League starts and failing to score a single goal.
"My experience in the Premier League was fabulous on a collective level, but on an individual level it was very hard for me, because I went from playing all the time to not playing at all," he told Spanish radio station Cadena Ser.
"Perhaps I struggled to adapt, I'm not going to kid myself, but above all our striking partnership, which Luis Suarez was a part of, scored 50 goals," added the Galician.
"They produced spectacular performances and so it was very complicated for me to get into the team."
"All I want to do is play football and Sevilla have given me that opportunity, and now I hope to be able to pay them back on a big scale," he said.
"Sevilla deserve to be in the Champions League after the last few seasons they have had. I hope to play as often as possible, and I hope to spend many years in Seville."
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