The Yellow Submarines have acted swiftly in the wake of loaning the Colombian to AC Milan by signing the experienced Swede on a one-year contract
The former Aston Villa and Juventus defender, who is equally comfortable playing in the centre or on the right, last appeared on the books of Greek champions Olympiacos.
"Olof Mellberg has succesfully completed his medical at the Jaime I de Castellon, and has signed a contract with the club for the next season," read a statement on Villarreal's official website.
"The defender will train with the team tomorrow, following which he will be presented to the press at the Ermita de la Mare de Deu de Gracia."
Coach Julio Velazquez will be able to count on the 34-year-old's experience, after he lost the services of regular first-team members Gonzalo Rodriguez and Cristian Zapata in quick succession.