The 27-year-old winger makes his return to French football having left to join the English Championship side from Angers in January 2016.
Camara had his contract with Rams terminated by mutual consent last Thursday despite featuring 26 times for them in the last campaign.
Guingamp becomes the third Ligue 1 side that the well-travelled Camara will turn out for after spells with Rennes and Sochaux.
He has also played for Greek club PAOK and Mallorca in Spain.
The Mamou-born former France junior international is capped 12 times by the National Elephants and has scored four goals.
Camara becomes the second African to be snapped up by Antoine Kombouare's men after South African midfielder Lebogang Phiri who was signed from Danish side Brondby.