Bentley left Rovers to join Spurs in a £17 million deal in 2008, but despite finding success initially, the midfielder soon fell out of favour at the north London club.
Bentley has spent the last two years on loan at West Ham, Birmingham and Russian side Rostov and has not played for his parent club since November 2010.
Andre Villas-Boas made it clear that the 28-year-old is not part of his plans for the rest of the season so he has decided to let the player re-join the club where he enjoyed the most successful years of his career.
Bentley joined the Lancashire club from Arsenal in 2005 and helped them qualify for the UEFA Cup the following season.
The winger went on to earn his first of seven England caps in 2007. He was hailed as the 'new David Beckham' and Spurs broke their transfer record to sign the player five years ago.
He soon fell down the pecking order at White Hart Lane, despite a memorable long-range strike against the club's bitter rivals Arsenal in October 2008.
Perhaps the most memorable moment of his time at Spurs was when he soaked Harry Redknapp during a TV interview shortly after the team had qualified for the Champions League at Manchester City.
Rovers have confirmed that Bentley, who will the squad number 35, is eligible to play in Saturday's FA Cup fifth-round clash against Arsenal.
The Championship club have also signed defender Rekik on loan from Manchester City.
The 18-year-old, who made his Premier League debut for the champions in December during a 1-0 win over Reading, has been registered in time to face Arsenal in the FA Cup this weekend.
Rovers boss Michael Appleton is delighted with the signing of a player that he worked with at Portsmouth last season, where Rekik made eight appearances during a loan spell.
Appleton told the club's official website: "He's 18 years of age, a Dutch youth international and has great experience in terms of the football club he's playing at in Manchester City.
"He played against Reading earlier on in the season, he's been on the bench in the last couple of months, he's a player who can play left-sided centre half or left-back, so he can provide us sufficient cover in those areas.
"The boy is full of quality. I'll put my neck on the line and say that the boy will be a Premier League player for many years.
"City are very lucky and I feel lucky that we are able to bring him in for the short-term.
"Hopefully we can use him to the full extent. I'm sure he'll be a great asset and hopefully push us towards what hopefully would be a great end to the season."
Rekik joined Roberto Mancini's side in 2011 after coming through Feyenoord's youth academy and signed a long-term deal at the Etihad Stadium earlier this season.