The 27-year old has been in Scotland for the past three years following his championship-winning stint with the Melbourne Victory.
Storey has signed for one season as has local goalkeeper Matthew Ham who spent part of last season with the Brisbane Roar.
Fury Football Operations Manager Robbie Middleby said: "The new team is looking really exciting with the latest two signings, Matthew Ham and Simon Storey.
"Matthew's dream was to come home to North Queensland to play for the Fury and we are lucky to have him. He is a quality goalkeeper and will really challenge Justin Pasfield.
"North Queensland is a proven breeding ground for quality football talent. Matthew's signing demonstrates our commitment to supporting and growing our North Queensland talent within the side.
"Storey had some good offers from teams in Europe but we have successfully enticed him to come back to Australia and play for the Fury," Middleby added.
"This shows the appeal of the Fury internationally - we are building an exciting youthful culture and we are home to one of the best climates in the world.
"Storey has been playing left back in Scotland but he can play centre back or right back. He's a very versatile player who has a great deal of experience under his belt for someone under 30."