The New Zealand international forward will be back in Australia for the 2013-14 season after sealing his release from Russian club FC Alania
After starting his career with the Wellington Phoenix, Barbarouses rose to prominence under the tutelage of current Victory coach Ange Postecoglou at Brisbane Roar during the 2010/11 A-League season.
The speedy forward scored 12 goals for the Roar during that Championship-winning campaign, before signing a lucrative three-year deal to play in Russia with FC Alania.
Barbarouses never really settled in Russia and was loaned out to Greek giants Panathinaikos last year, where he made 11 appearances in the Super League.
But Barbarouses is now back in the A-League after he signed a three-year contract with the Victory and Postecoglou is looking forward to having the 23-year-old striker at his disposal once again.
"We are delighted to have Kosta on board with us at Melbourne Victory and he will add even more attacking flair to our team this season," Postecoglou said on Wednesday.
"Kosta has plenty of pace, great technical ability and is a proven scorer, having netted 12 goals the last time he played in the A-League.
"While he's only 23, he has made over 50 appearances at Brisbane Roar and Wellington Phoenix, so he's certainly aware of what is required to perform at this level, and I know he's excited to be returning to the A-League."
Barbarouses will commence training with the Victory on Monday.