The 28 year old Dynamo Kiev left-back has returned for the forthcoming campaign, with a view to earning a permanent Hawthorns deal.
“It was always our intention to get Goran back over the summer,” said head coach Steve Clarke.
“He knows what the club’s about and we know what he’s about. He's a good player and it makes sense to bring him back. He understands the Premier League better now as well and we will look for even more from him next season."