Now 34 years of age, the move sees the experienced frontman head back to where it all began.
Van Persie is a product of the academy system at Feyenoord, with the Rotterdam native having first linked up with the club as a 16-year-old back in 1999.
He would spend just three years as part of the senior fold at his home-town club before securing a switch to Arsenal in 2004.
Eight seasons with the Gunners delivered over 130 goals and an FA Cup triumph, but he was lured away to Manchester United in 2012 – in a move similar to that currently being mooted for Alexis Sanchez.
Van Persie helped the Red Devils to land the Premier League title in his debut campaign, along with a second Golden Boot of his career, but left for Turkey in 2015.
He has remained a regular source of goals while with Fenerbahce, and has also taken his impressive haul of caps with the Netherlands to 102, but has been allowed to head home after slipping down the pecking order.
Feyenoord are delighted to have put a deal in place, with terms set to be officially signed on Monday.
The reigning Eredivisie champions will be hoping that a familiar face proves to be a talismanic presence, just as Dirk Kuyt was when returning to the club from Fenerbahce.
Giovanni van Bronckhorst’s side currently sit fifth in the Dutch top-flight, 14 points adrift of leaders PSV.