The 29-year old former Everton and Scotland forward returns to Fir Park after leaving the Well for the Toffees back in 2003.
McFadden, who also played for Birmingham City and Sunderland, was delighted to be back at Motherwell to help Stuart McCall's side achieve as high a finish as possible this campaign and is hoping to force his way back into Scotland calculations.
"It's great. I obviously had a good time the first time and I need to get back playing football and this is probably the best place for me at the moment," he told MFC TV.
"I can't wait. Obviously the team have been doing well this season and I'm hoping I can add something and get some games under my belt and put my injury worries behind me.
"I was out for over a year with my injury and it took me a wee while, even when I was fit and training, to get back to a level I was happy with. I never really managed to get a run of games to get back to my best.
"This is the perfect opportunity for me to do that and hopefully I can do that in the next couple of weeks.
"The last wee while people have been questioning my fitness and my ability to play games and get back to the level I was at. Hopefully this is the springboard for me to get a good run of games and let people see I'm fine and over my injury and ready to play.
"Obviously I'd love to play for Scotland again."