The young defender found it difficult to break into the Pirates starting line-up and he has since been loaned to the Urban Warriors.
Ajax confirmed the deal on their official website on Thursday.
A club statement read: "Ajax Cape Town can officially confirm that Tercious Malepe has joined the club on a season-long loan deal, from Absa Premiership rivals Orlando Pirates.
"Malepe is a full South African International having represented Bafana Bafana at the 2016 and 2017 COSAFA Cup tournament. He was also part of Stuart Baxter’s squad for the 2018 African Nations Championship (CHAN) qualifiers, alongside new teammates Masilake Phohlongo and Roscoe Pietersen.
"Furthermore, the 20-year-old has played for South Africa at U20 & U23 level, having captained his country at both the U20 Africa Cup of Nations in Zambia and the U20 FIFA World Cup in South Korea earlier this year – playing alongside Urban Warriors midfielder Grant Margeman on both occasions.''
Malepe will compete with Roscoe Pietersen, Isaac Nhlapo and Sirgio Kammies for a place in the Ajax starting line-up.
He could make his debut for the Urban Warriors when face Orlando Pirates in a PSL game on 12 September 2017.