The 34-year-old has been sidelined since suffering an ACL injury in training, just six matches into the current campaign.
Perisic has remained optimistic of returning to action in the spring and being fit for Croatia's European Championship campaign in Germany this summer.
The move brings a close to his time in the Premier League, having joined the north London club on a free transfer from Inter Milan in 2022.
The midfielder-turned-defender scored once and assisted 14 times in 50 appearances for Spurs.
He now returns to the club in which he began his footballing career, though never made senior appearance before departing for Sochaux aged 17.
According to reports, Perisic will receive a monthly salary of just €1 (86p) for the remainder of this season with the Croatian side, as well as in the next campaign.
He will be able to increase his earnings beyond his gesture of goodwill through various bonuses.
Earlier this month, Ange Postecoglou admitted that Perisic had likely played his last game for Spurs and shared his disappointment he could not have been a part of their impressive campaign.
'He's been a significant loss for us.' The Australian said. 'I thought this year he was going to be a really significant contributor because of his experience and we saw that in the first few games because of the way he impacted games.
'But yeah, he won't...he's unlikely to play for us again.'
Perisic had started the season brightly after returning to a forward role following the arrivals of both Postecoglou and left-back Destiny Udogie.
He assisted Richarlison's 98th-minute equaliser against Sheffield United in September in his final Premier League appearance, helping Spurs secure the latest comeback in the competition's history.