The 35-year-old former Swansea and Bristol City hitman is back in English Football after two seasons with Welsh side Neath.
"I'm delighted to join a massive club," he said. "Although we are in League One, the club should be a lot higher and I am looking forward to being a part of this season and getting the club promoted."
Chairman Peter Ridsdale added: "Lee is a player the manager identified as someone he felt would add attributes to the squad that we didn't have.
"His performances in the two pre-season games have impressed the manager and the supporters alike and I am delighted he has agreed to join us and wants to be a part of what we believe could be something special for Preston North End."