The 22-year-old originally joined the Championship club on a temporary basis in September.
However, Macheda’s spell at the Keepmoat Stadium was soon cut short by injury and he was forced to return to United for treatment.
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“I am delighted I have been able to convince Kiko [Macheda] to re-join us as it will add to our attacking options,” Doncaster manager Paul Dickov told the club’s official website.
“I would like to thank Manchester United and Kiko for choosing to come back here. I know that he was happy here and knows the set up well. His club and we were happy about his performances in the five games he appeared in, with a tally of three goals.
“I’m pleased the owners have allowed me to bolster our attack by bringing a quality proven striker into the squad.”
Despite originally bursting onto the scene with United at an early age, Macheda has since struggled to make an impact and has also found himself shipped out on loan to Sampdoria, Queens Park Rangers and Stuttgart.