The Tiverton-born 29-year-old, who has played against the Grecians on a number of occasions for Wycombe and then Brentford, returns to a very familiar part of the county after there was a mutual termination of his contract with the Bees in the summer of 2012.
He is no stranger to professional football in the Westcountry either having spent five seasons as a Bristol City player and the 2004/05 campaign on loan at Plainmoor.
City boss Paul Tisdale spoke of his delight at having secured a left-back after the acquisitions of right-back Kevin Amankwaah
and centre back Pat Baldwin
the previous week and told City fans what they can expect from their latest signing.
"Not having a left-back secured had been the hole in our preparations so far, Craig has left Brentford and we've moved very quickly to secure him," he said.
"I am very pleased, it's a good fit. He's the right type of player for us - experienced, good quality and a Devon boy who knows the area and has an affinity to this part of the country. In many aspects it's a good signing.
"He is a good competent all round player. He is a tough defender who is good on the ball, can defend and attack as well."