The 21-year-old, who is a free agent after leaving EFL side Northampton Town, enjoyed a successful loan spell with the Pilgrims in 2021-2022 – scoring twice in five appearances.
He netted within 10 minutes on an action-packed debut against Kettering Town in February – before marking his 21st birthday with a last-gasp winner at Guiseley in March.
"We are delighted to welcome Scott back on a permanent basis," said manager Paul Cox.
"He really hit the ground running during his loan spell in February and March and scored two very important goals against Kettering and Guiseley."
Pollock will officially join the Pilgrims on July 1.