Martins, 35, last featured in a competitive game more than two years ago.
The pacy forward has struggled to stay fit due to hamstring injury.
His last game was in April 2018 for Shenhua, for whom he scored 32 goals in 59 matches during his previous spell.
Read Also: Levante Line Up Bid For Omeruo
The former Inter Milan striker will take the place of compatriot Ighalo, who joined Premier League club Manchester United on loan in January.
Martins scored 18 goals in 42 appearances for Nigeria before retiring from international football.
Shenhua will face reigning CSL champions Guangzhou Evergrande on the opening day of the season on July 25.
The new CSL season is kicking off five months late due to the coronavirus pandemic.
By Adeboye Amosu
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