The 29-year old was released by Crystal Palace after his contract expired at the end of last season.
The Manchester United youth product will be welcomed at the KCOM after his goal scoring exploits help propel the Tigers into the Premier League back in 2008-09.
Campbell scored 15 goals in that campaign, but injuries have since curtailed his development.
"I'm looking forward to playing at the KCOM Stadium again and I can't wait to get started," said Campbell.
| He's back! We are delighted to confirm the signing of Fraizer Campbell on a two-year deal #WelcomeBackFraizerpic.twitter.com/LvSU7Rwhhl
— Hull City (@HullCity) July 18, 2017