Cooke, 22, made the switch to the Gladiators in the summer and featured for the majority of pre-season, but lost his place to club captain Adam Yates when the league season started.
He returns to previous club Stamford having made just one start for Matlock, in the 1-0 win at Basford United.
Matlock say his contract was terminated by mutual agreement to enable him to find regular first team football.
Stamford boss Graham Drury told the Rutland & Stamford Mercury: "Everybody knew that I didn't want to lose Jordon in the summer, but he went to play higher and we'll not stand in anybody's way when that happens.
"It's just great though that he's got the guts to want to come back because some players would shy away from it.
"He's a character that you want in your camp. He's a player that gives everything every week."
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