Grebeshkov played parts of three seasons with the Oilers from 2007 through 2010 before being traded to the Nashville Predators.
He spent the three previous years in Russia's Kontinental Hockey League.
The 29-year-old is a veteran of 227 NHL games. He was the 18th overall pick of the Los Angeles Kings in 2002 and played for the New York Islanders before going to the Oilers the first time.
During his Oilers tenure, Grebeshkov had 76 points in 190 games. He had eight assists in 44 games split between SKA St. Petersburg and Yugra Khanty-Mansiysk last season in the KHL.