Lowe had two loan spells with Cheltenham during his days at Wolves
Keith Lowe has expressed his delight at joining Cheltenham for a third time.
Lowe has signed a one-year contract with the option of an extra 12 months provided he makes enough appearances.
"The big picture is for the team to do well and if I play well and the team does well that'll take care of itself," Lowe told BBC Radio Gloucestershire.
"I got the impression the gaffer wanted me here, he knew I wanted to be playing for Cheltenham, I know the place so it was an easy decision to make."
Since his loan spells with Cheltenham in 2006 and 2007, Lowe had a season-long loan with Port Vale, before moving to Kidderminster and then Hereford.
During this period he has never been booked - a remarkable record for a defender - with the only yellow card of his career coming before for Swansea in March 2006.
"Maybe I've got a bit of an innocent face and just get away with a few things, but I don't mind that at all," said Lowe.
"I don't go in to any rash tackles and just go about my defending the best I can - don't foul, don't do anything stupid, keep your head clear and just defend how you're supposed to defend."
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