Hayne was granted a release from his $1.2 million a season Titans deal on Thursday opening the door for a return to his childhood club.

The 29-year-old is believed to be joining Parramatta on a contract worth about $500,000.

“As I said yesterday, my decision to return to Sydney wasn’t taken lightly so I am grateful that Brad and the Eels have offered me the opportunity to return to the club,” Hayne said.

“Eels Members and fans have been behind me throughout my career and I want to use this second chance to repay that faith and support.

“I look forward to returning to training in early January 2018 and am keen to work hard and play my part for the team in building on last year’s finals run.”

Hayne struggled upon his late 2016 NRL return after a stint in the NFL and has so far failed to recapture the form that made him one of the NRL's most exciting players. 

However, Parramatta CEO Bernie Gurr said that the club was pleased one of its most talented local juniors had returned home.

“Jarryd started playing for our club as a 15 year old, so we are pleased that he now has the opportunity to return and be part of a strong squad and playing culture that Brad Arthur has developed over the past few seasons.” he said.

“From speaking with Jarryd, he is keen to join his teammates in early January and is committed to working with Brad and our players to build on our excellent 2017 season.

"Jarryd’s abilities will strengthen our 2018 player roster and we look forward to again seeing Jarryd in the Blue & Gold."