The veteran centre-back has agreed to help his former team regain their top-flight status after their unexpected drop to the Segunda Division in the 2011-12 campaign
The experienced right-back, 36, played for the Yellow Submarine from 2002 to 2010 making more than 200 appearances. He later left for Levante and helped the team win promotion to the Spanish top flight in 2009-10.
Venta was bought by Villarreal in 1999 but spent three seasons away on loan before coming back to establish himself as a prominent figure both on and off the pitch. He made 182 appearances in La Liga with the club prior to his move to the Ciutat de Valencia.
He played a key role in Levante's outstanding 2011-12 season, featuring in 26 league games and another four appearances in the Copa del Rey with Los Granotas, helping them qualify for the Europa League for the first time in their history.
He will be officially introduced as a Villarreal player on Sunday at a press conference held at El Madrigal. The Yellow Submarine were demoted to the Segunda after finishing in 18th place in the Primera Division.