Canales was on loan with the club last season from Real Madrid and now pens a five year deal, though Madrid have a buy-back option.
“I am very excited and more eager than ever to return to the pitch and give my best for the team”, said Canales.
“The club has shown firm trust me, made me feel very comfortable, and have just asked me to focus on my recovery [from injury] and to help the team as much as possible.”