Vine did not feature for the QPR first-team last season and spent time on loan with Hull City and MK Dons.
“Two seasons ago when I was at QPR we played here in the Carling Cup, we ended up winning 5-0 but it was massively flattering and everyone that night was impressed with the way the team plays football,” Vine told the club’s official website.
“Last week there were possibilities that weren’t right for me but I spoke to my agent and he mentioned Exeter and I was interested straight away.
“The only thing I look for in terms of targets is to integrate myself into the squad and the team, enjoy myself and hopefully the team will do well.”