He first came to prominence in the Ontario Hockey League as a championship winner with Peterborough Petes in 2006, before gaining extensive experience in North America and Europe.
Last season the 29-year-old skater iced for Morzine-Avoriaz-Les Gets in the French League.
Stars boss Marc LeFebvre said: “One of our key priorities this off-season was to improve our back end – Craig makes us better defensively.
“He brings a pronounced style of play and will help all the young guys grow. The fans are going to enjoy Craig as a player.
“He is a good person and a brilliant guy to work with. He is team oriented and very much a ‘we’ over ‘me’ type of skater.
“We think Craig will help the club’s playing side further develop. In particular he will be a positive influence on the young players on the roster.”
Cescon added: “I’m excited to return to the Elite League. I really enjoyed playing for Marc (LeFebvre) in Coventry which made my decision easy.
“I can’t wait to throw on the Stars jersey next season and compete for some silverware.”