The 36-year-old had been a free agent after ending a short spell at Exeter City in January.
Carayol made six appearances for the Grecians in League One, having joined the Devon-based outfit following his release from Burton Albion last season.
WELCOME TO WEALDSTONE, MUSTAPHA CARAYOL ✍️
We are delighted to announce the signing of free agent winger Mustapha Carayol on a permanent deal! 📝
Full story available here: https://t.co/gX8L9faxyE pic.twitter.com/GQTdJgudcj
— Wealdstone FC (@WealdstoneFC) March 15, 2025
He now joins Neil Gibson's side in the fifth tier, making his debut for the Stones on the weekend. He came on as a substitute in their 3-3 draw at home with Eastleigh.
Wealdstone also have a former Town loanee Anthony Georgiou in their ranks at Grosvenor Vale. They currently sit in the relegation zone on goal difference.
Carayol had a brief spell at Portman Road back in 2018, playing just eight games for Town in all competitions, scoring once.
The experienced attacker has featured for a total of 18 clubs so far in his long career in England. He has also played abroad in Cyprus and Turkey.