Former Le Mans star is reunited with Rudi Garcia whom he worked with in the past after signing long-term deal with French club
The French champions were interested in the centre-back last summer after battling Paris Saint-Germain for his signature, but neither club saw a move take off.
But Lille have now captured the 28-year-old who has signed a contract that will until 2015.
A statement on the club's official website reads:
"The Montenegrin defender Marko Basa has officially joined LOSC for a four-year duration. He will be wearing the Lille colours until 2015."
Basa returns to Ligue 1 after previously spending time there with Le Mans before joining Lokomotiv three years ago.
Speaking of his arrival, he said: "I am happy to have signed and I am at an ambitious club where I reunite with Rudi Garcia, a coach who helped my progression a lot. I am very happy to be able to work with him."