Arana, who primarily operates from the right-wing position, will add more steel to the Dynamos side when going forward.
The 33-year old Arana made 10 appearances for FC Goa in the ISL this season, scoring thrice and assisting on two occasions. The winger was also on target when Goa beat the Lions 5-1 earlier in the season.
A product of the Real Betis youth system, Arana made his professional debut with Spanish side CD Castellon. He then went onto represent the likes of Rayo Vallecano, Mallorca, Racing and Recreativo - racking up more than 200 appearances and 40 goals to his name.
The 31-year old Dutch attacker made 10 appearances for the club and scored crucial late goals against Chennaiyin FC and Bengaluru FC.
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