28 year-old striker Spencer, the veteran of over 300 League appearances, initially joined The Shots in February 2010, playing 14 games as Kevin Dillon’s side made the League Two Play-Offs.
A targetman rather than a prolific goalscorer, Ascot-born Spencer began his career at Windsor and Eton before moving on to Bristol City, Exeter City and Brentford. It was at Cheltenham, though, where Spencer forged his reputation, with 39 goals in 135 starts.
After making his fourth signing in a week, Dillon also confirmed that former Wycombe left-winger Kevin McLeod has joined the club for pre-season training.