Mashego saw his contract at Chloorkop come to an end in July, and the striker had since joined Bidvest Wits in an attempt to keep fit over the last few weeks.
However, the 34-year-old goal-poacher has since made the trek to Port Elizabethm, where he has penned a 20-month contract.
“We are delighted to welcome Katlego Mashego to Chippa United Football Club," Chippa boss Chippa Mpengesi told the club's website.
"We were struggling a bit up front, and could not look further than Katlego, who was immediately available for us.
"He is a player that brings a lot of experience to the team. His talent and knack for scoring goals is not in doubt.
"We are aware of his ability, and what he is going to bring to this young side. He will help us with the youngsters in the team."
Mpengesi further revealed that he had an interest during 'Mahoota's' time at Golden Arrows in 2012, but the striker instead joined Maroka Swallows.
“We tried to get him to come to Cape Town [where the team was based before moving to Port Elizabeth] but he was not availablem" he added.
"I am happy today that he will wear the blue and white of Chippa United. I wish him all the best during his time with us.”
Mashego, who will wear number 43, equally expressed his delight at joining the Chilli Boys, whom he believes "plays football the right way".
“It is great to be here and a wonderful opportunity for me. When I heard that coach, Dan Malesela was interested, I did not think twice about coming down here," he said.
"Chippa United is a great team, and they play football the right way. I am excited to be here, and look forward to contributing to the club.”