The Uruguay international has been attempting to rebuild his career since his final season in Turin was blighted by injury, leaving the club at the end of the 2015-16 campaign.
Caceres made one appearance during a brief stay at Southampton last year, before heading to Verona in the close season, where he has started 14 Serie A matches and scored three goals.
The 30-year-old will now once again be involved in the race for the Scudetto, with Lazio - who have an option to extend the deal - sitting fourth, 11 points adrift of leaders Napoli.
Caceres won five Serie A titles with Juve.
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