The attacking midfielder has joined the Portuguese LigaPro (Segunda Liga) side from Swedish Allsvenskan outfit Djurgårdens IF Fotboll.
Mayambela has been on the books of top-tier club Djurgarden since 2016 and he spent two seasons on loan at Swedish second division (Superettan) clubs Degerfors IF and IK Brage.
The 21-year-old player featured in 10 league matches for Brage during the 2018 Superettan season and he hit the back of the net twice.
Prior to joining Brage, Mayambela had scored seven goals in 29 league games for Degerfors in the Superettan.
Farense have since announced the signing of the former Cape Town All Stars playmaker on their official website as they beefed up their squad ahead of the new 2018/19 season.
A club statement read: “Mihlali Mayambela, a 21-year-old South African, offensive midfielder from Djurgarden of the Swedish Premier League, is strengthening our squad ahead of the 2018/19 season. Welcome to Sporting Clube Farense."
Mayambela reportedly joined the Faro-based side on a one-year deal with the club having been promoted to the Segunda Liga from the Campeonato de Portugal two months ago.
Nicknamed Lions of Faro, Farense were elevated to the second tier of Portuguese football after finishing second behind league winners, Clube Desportivo Mafra.
They are set to open their 2018/19 Segunda Liga campaign against Futebol Clube de Famalicão at their home ground, Estádio de São Lúis on the 12th of August 2018.
Mayambela will be hoping to establish himself at the Lions of Faro and help the team secure promotion to Portugal's elite league, Primeira Liga.