Elliott has joined the League One side until the summer, when his Tigers contract runs out and he will be free to move anywhere.
He has described the deal as "perfect" as he doesn't have to uproot his family from Hull. The born again Christian is well known for his involvement with a local church.
City's capture of Elliott in 2002 was one of the few good things to come out of Jan Molby's short reign as manager. He joined for £175,000 from Motherwell and finished as top scorer in his first season, an achievement he would manage twice again in his five full seasons at the club. Following promotion from Division Three in 2003/04 - when Elliott started 42 league games and scored 14 goals from the left wing - it was during the following promotion season in 2004/05 that the player hit his best form. He scored 29 goals, again mostly from the wing, and would surely have gone on to score more had he not suffered an injury on New Year's Day that ruled him out for six weeks. That happened in the fifth consecutive game with his name on the scoresheet at least once. During that run he scored his only ever goal against Doncaster, the winner four minutes from time at the KC Stadium in front of a then-record crowd of 24,117.
Some believe Elliott has played to a lower standard since that injury, although he has scored 13 goals since City's promotion to the Championship, making it 65 in total from 193 appearances - putting him in 13th place on the club's all-time top scorers list.
There had been reports that Elliott had agreed a 2½-year contract with Doncaster and would join in a £100,000 deal, but it is in fact a loan spell with a view to making it a permanent free transfer in the summer. He joins the man that used to play on the opposite flank at City, Jason Price, during those promotion seasons.
Meanwhile, goalkeeper Mark Tyler has extended what would have been a month's loan from Peterborough until the end of the season, in what looks like being City's only other business before the transfer window closes tonight.