The 20-year-old from Ayrshire joined Clermont Auvergne in the summer of 2011, but his progress has been curtailed by a knee injury.
Bennett, who came through the Warriors elite development system, told glasgowwarriors.org: "It's hugely exciting for me to have the opportunity to return to Glasgow.
"It's always been my ambition to play professional rugby for the Warriors, and it was a massively tough decision to leave for Clermont 18 months ago.
"There has been real progress at Glasgow on and off the field since then, and it's a great environment to be coming into."
Glasgow head coach Gregor Townsend was pleased to sign the former Scotland Under-18 and Under-20 centre.
Townsend said: "Mark has the potential to become a very important player for Glasgow Warriors.
"It's further good news for the club and for Scottish rugby in general to be bringing Mark on board. He's here for the rest of the season, and, as with any player who comes in on loan, we'll be constantly assessing if and how they might fit into our plans in the longer term."
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.