Fiddler, 36, had one goal, two assists and was minus-11 in 39 games for the Devils this season after signing a one-year contract with them July 1.
"He's played in the League a long time," Predators coach Peter Laviolette told The Tennessean. "He's a good defensive player, penalty killer, more of a role-type player. But I think [he's] a good fit as we head toward the [Stanley Cup Playoffs]."
The Predators this week placed forward Mike Ribeiro on waivers and assigned him to Milwaukee of the American Hockey League after he reportedly requested a trade.
Fiddler played his first six NHL seasons with the Predators, who signed him as an undrafted free agent May 6, 2002. He had 45 goals and 48 assists in 305 games for Nashville, and has 103 goals and 157 assists in 857 games for the Predators, Phoenix Coyotes, Dallas Stars and Devils.
"He's been here before and he's a good hockey player," Predators captain Mike Fisher said. "He can do a lot of things well. I think he's going to fit into our lineup really, really well."
The Devils have 10 picks in the 2017 draft, including one in the first round, and two each in the second, third and fourth rounds.
