He had spent the past three seasons playing in his native Russia.
Grebeshkov had 75 points in 190 games with the Oilers from 2007-10. He started his NHL career with the Los Angeles Kings in 2003-04 and also has played with the New York Islanders and Nashville Predators. He has 84 points in 227 career NHL games, but Grebeshkov left North America to play in the KHL following the 2009-10 season.
The 29-year-old defenseman, who was selected in the first round of the 2002 NHL Draft (No. 18) by the Kings, had 34 points in 144 games in the KHL with SKA St. Petersburg and HC Yugra.