Over 50,000 fans welcomed him back to the South American giants, where he started his senior football career at just 16 years old.
After being sold to Chievo Verona at 18, Paredes spent the next 13 years playing in Europe, including a stint at AS Roma.
Now 31, Paredes expressed his gratitude and excitement upon his return, saying, "I've dreamed of coming back since the day I left. It's a unique feeling. I wanted to get back in shape and give my all for this club. I hope I can repay all the love I'm receiving."
During his return, Paredes also mentioned the gesture of his teammate Rodrigo Battaglia, who gave up his coveted No5 shirt for him.
Paredes thanked Battaglia, saying, "He wrote to me in January saying he'd let me have it. I thank him; it's no small gesture."