The former River Plate academy graduate Velez will join the squad after finishing his season with SAF Warriors in the Singapore Super League.
Velez struck 28 goals in 31 appearances in SAF Warriors' League triumph last season as he was named in the Singapore Select XI for the recently-concluded Barclays Asia Trophy.
Pitting his talent against Premier League sides like Arsenal and Stoke, the Singapore XI forward earned praise from Arsene Wenger who termed his performance "electric".
Velez was visibly happy after signing the contract and revealed his happiness in an exclusive chat with the NEUFC Media Team, "It is a challenge and a great opportunity for me to play in a League with a lot of great players and legends of the game," he said in NEUFC website.
Welcoming Velez, NEUFC head coach Cesar Farias said: "I am very happy to add this piece to the puzzle because he is very fast and has a great technique with the ball while attacking. He possesses characteristics similar to players such as Alexis Sanchez. He has improved remarkably over the past year and we all know that he can score.
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