The 23-year-old defender who played for Central Coast between 2021-2024, and was part of their grand final-winning team in 2023 and 2024 AFC Cup triumph, has joined Western Sydney for the remainder of their campaign.
But Farrell, who joined English Championship club Portsmouth on a four-year deal in July 2024, will not be available for the struggling Wanderers' clash against Melbourne City at CommBank Stadium on Saturday night, or until he receives his international transfer clearance.
"I've come back in search of more consistent match minutes which I have lacked over the last year. The Wanderers were willing to give me a chance to fight for minutes on the field again. I'm very grateful for the opportunity," Farrell told the club website.
"My main goal is to help the team reach the top six, the table is still very close and the belief to make the finals is alive.
"I always enjoyed versing the Wanderers in the past, the clubs support base is full of passionate fans and I'm excited to represent the west and give my all for the club."
Farrell's time at Pompey, who are battling in 19th place, three spots and one point above the relegation zone, has been hampered by injuries and he's featured just twice for manager John Mousinho in all competitions this term.
The Fratton Park-based Blues also have Aussies Adrian Segecic, Hayden Matthews and Thomas Waddingham on their books.
The Mariners had been interested in bringing the left-footer back to Gosford but that loan deal collapsed last month. He had also been linked with moves to England's League One (third tier), Scotland and Denmark.
"Jacob has proven himself in some of the biggest games in Australian football and has also tested himself abroad," said Wanderers coach Gary van Egmond.
"His winning mentality and professionalism align perfectly with our club's ambitions for the remainder of the season, and we're excited to welcome him to the Wanderers family."
Tony Popovic will oversee friendlies in March against Cameroon (Sydney) and Curacao (Melbourne) before selecting his Socceroos squad for the World Cup, kicking off in June in North, Central and South America.