Higuain, 36, appeared as a substitute in four matches with Miami last season after being traded from D.C. United on Oct. 10, 2020 for $50,000 in 2021 general allocation money.
He has 57 goals and 63 assists in 207 career games (184 starts) in the MLS with the Columbus Crew (2012-19), D.C. United and Miami. The Argentina native was named the MLS Newcomer of the Year in 2012.
"It's great to have Federico back," Miami chief soccer officer and sporting director Chris Henderson said in a statement. "He is a valuable asset to the team not only because of what he can contribute to on the field, but also for what he brings to the locker room, which is experience, a positive attitude and professionalism to the group."
Higuain's younger brother, Gonzalo, is also on the Miami roster. The 33-year-old forward had one goal and two assists in nine games last season.
Meanwhile, defending MLS Cup champions Columbus Crew signed free-agent midfielder Perry Kitchen on Thursday. Terms were not disclosed.
The 28-year-old MLS veteran played the last three seasons with the Los Angeles Galaxy following a five-year run with D.C. United (2011-15). He has 10 goals and 14 assists in 218 games (207 starts).
"Perry is a seasoned player whose addition to our roster will help bolster our midfield," Crew president and general manager Tim Bezbatchenko said in a news release. "Along with bringing a decade of professional experience and leadership in MLS and abroad, Perry will provide another important veteran voice to our locker room. We believe that his qualities as a player on and off the field will allow him to fit right in at our Club."