After the 38-year-old right back terminated his contract with Sao Paulo on September 16th, following a dispute over unpaid wages, he was linked with several other leading Brazilian clubs, including Fluminense, Flamengo and Athletico Paranaense.
The Brazilian transfer window closed on Friday.
Alves won trophies with Sevilla, Barcelona, Juventus and Paris Saint-Germain as well as two Copa America titles with Brazil and a gold medal at this summer's Olympics, his 43rd career title.
He was adamant he was not retiring, adding the hashtags #ITSNOTOVER and #IWILLBEBACK to his Instagram post.
Alves won the Paulista championship with Sao Paulo last season, but the club owes him 11 million reais (about 1.8 million euros), according to the Brazilian press.
"I came to Brazil for a childhood dream, and the dream came true. Being champion with the club of your heart is priceless," he wrote, before adding: "It's not about money, it's about values, it's about honesty, it's about character, it's about legacy."
Standout matches today