The 34-year-old midfielder, who played for a number of Premier League clubs during his nine-year stay in England, returns to Israel after an unsuccessful spell at QPR
The 34-year-old midfielder has signed a two-year deal with the club, who he played for between 1998 and 2002.
Benayoun moved to England in 2005 to sign for West Ham and had subsequent spells at Liverpool, Chelsea, Arsenal and QPR.
He was not a regular in QPR's promotion-winning campaign in the Championship last term though, making just 17 appearances in all competitions, scoring three goals.
"[I am] happy to come back and wear the green shirt," Benayoun told Maccabi's official website.
"[I] believe that along with the professional staff, the players and management, [we] can reconstruct the great days of Maccabi Haifa."
Maccabi Haifa finished a disappointing fifth in Israel's top-flight last season.