The experienced striker has an impressive goal return in the Football League and will now help the Cobblers in their fight against the drop in League Two.
Speaking to the club's official website, Town boss Aidy Boothroyd said that he was looking forward to welcoming the 29-year-old into his squad:
“I’m delighted to bring in a proven goalscorer in Izale McLeod.
“He has always done well against my sides in the past, he will add another dimension to our attack and pose a real threat to our opposition.
“I’m really excited about working with him and I’m sure he will be a great addition to our squad.”