Crespo turns back clock to rejoin Parma
"I've always supported Parma and to come back is an incredible emotion," the 34-year-old former Inter Milan forward told Parma's website on Saturday.
Crespo previously played for Parma from 1996 to 2000, winning the UEFA Cup with the northern Italian club in 1999.
To make room for Crespo, Parma said they had sold forward Nicola Amoruso to Atalanta.
Media reports have said Atalanta will now send struggling on-loan front-man Robert Acquafresca back to owners Genoa effectively making the deal a three-way swap.
Promoted Parma made a good start in Serie A this term before slipping to 12th.