The 35-year-old has played 38 BBL matches in his career, with his domestic T20 duties limited due to his long-serving role as Australia's front-line Test spinner.
Lyon has taken 44 wickets at an average of 21.5 in the BBL with an economy of 7.18.
On Friday the Renegades unveiled Lyon as their latest signing for BBL|13, with the veteran spinner speaking on his excitement with the new venture.
“I'm absolutely thrilled to be part of the Melbourne Renegades,” Lyon said in a club statement.
“(Marvel Stadium's) a place where I enjoy bowling, it tends to spin a little bit. I'm looking forward to hopefully joining up with ‘Zamps' in a really good partnership and putting a show on for the Renegades fans.
“I've got some really good friends who are part of the Melbourne Renegades, and that's one of the reasons I wanted to come down. There's a good group of senior players there who I've played a lot of cricket with internationally and also domestically, then you look at the younger guys throughout the roster – it's a pretty powerful squad in my eyes.
“I think we need to set the benchmark high, shoot for the finals and make sure we go and try to lift the trophy.”
The Renegades have steadily built a solid foundation for their BBL squad, with Nic Maddinson, Aaron Finch, Mackenzie Harvey, Lyon, Shaun Marsh, Kane Richardson, Tom Rogers, Jon Wells, Will Sutherland and Zampa all set to feature in BBL|13.