Preston, 21, scored seven goals for the Lions last season to retain their National League status following his move from Blackburn Rovers last summer.
The ex-Rovers academy player also scored 12 goals while on loan to Ayr United in 2015-16.
"It's a good opportunity for coming coming back to full-time football." Preston said.
"The manager has spoken very highly of the club and our ambitions for the coming season."
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Gateshead have signed forward Jordan Preston on a one-year deal following the expiry of his contract at Guiseley.