The experienced midfielder has returned to his native country after reaching an agreement to terminate his contract with the Europa League winners after a four-year stint
The 32-year-old had one year left on his contract with the Liga side, but was free to negotiate terms with other clubs after having reached an agreement with Atletico to terminate his deal.
Paulo Assuncao joined Los Colchoneros from Porto in the summer of 2008, and had made close to 100 official appearances for the club. He looked back at his time at the Vicente Calderon but admitted he is anxious to return to action in Brazil.
"I've experienced the best moments of my career at Atletico, winning three European titles. I'll always remember my time at Atletico," the midfielder stated.
"I hope they do very well this season and achieve their objectives. I'm really excited about returning to Brazil and hope I can continue showing what I can do."