The hooker was let go by the Sharks at the end of last season after a two-year spell at the club.
There was interest in Segeyaro over the summer, with the Newcastle Knights said to be looking at the 28-year-old.
But nothing came of it, which forced the Papua New Guinea international to take work as a barista to make ends meet.
But now after agreeing to a one-year deal, the former Cowboys, Penrith and Leeds rake will join the Brailey brothers — Jayden and Blayke — in competing for the Sharks’ No 9 jersey.
“He had (an) opportunity to go to other clubs,” Cronulla coach John Morris said.
The re-signing of the hooker is a surprise, and comes at an interesting time given the Sharks salary cap furore has yet to be resolved.
Just last week, there were suggestions that the Shire club may lose new recruit Shaun Johnson if they had to cut players in order to become salary cap compliant.
The recapture of Segeyaro, who played 26 of the Sharks’ 27 games last season, comes at a perfect time given Jayden is suffering with a minor hamstring problem ahead of this weekend’s trial game with the Newcastle Knights.