Pattinson has played the last two seasons with Brisbane Heat after earlier spending five seasons with the Renegades.
“I loved my time at the Renegades and I’m thrilled to be heading back to the club,” Pattinson said.
“With a young family it’ll be nice to base ourselves at home in Melbourne all year round, although this season might look a little different.
“I’m looking forward to forming a strong combination with the other bowlers and playing in front of the passionate Renegades fans at some point.”
Pattinson recorded the best bowling figures of his BBL career earlier this year when he captured five wickets against the Adelaide Strikers.
The 30-year-old is currently playing in the Indian Premier League with the Mumbai Indians.
“At the top of his game, ‘Patto’ is one of the most destructive fast bowlers in the game and he gives us that wicket-taking threat in the powerplay,” Renegades Coach Michael Klinger said.
“His current form in the IPL has been brilliant and he’s shown he’s adaptable to bowl in all phases of the innings.
“We’re looking forward to having his aggression and positive attitude in our group and hopefully provide a platform for ‘Patto’ to break back into the Australian white ball set up.
“This season, the extent of his availability will depend on the make-up of the Test squad but we know he should at a minimum be available for the back end of the tournament and finals.
“Alongside Kane Richardson, ‘Patto’ provides us with another world class fast bowler.”
The Renegades will announce further player signings in the coming weeks.