The 33-year-old recently marked his return from retirement by signing for Guiseley early this season.
Yates has featured over 500 times for the Gladiators in a career spanning 12 years.
The departure of Akeem Hinds to Stafford Rangers allowed the club to contact Yates who heeded the call.
"Martin Foster asked me to help him out at Guiseley, I played a couple of times for them before Paul Phillips came in," Yates said.
"It was nice to see Paul and Kayde Coppin again but Guiseley's an hour and a half away from me and training's at Bradford which is a bit further still, so it didn't really work out for me. Guiseley's a very good club and I wish them all the best."
"Paul Phillips told me Matlock had put seven days notice in for me and then after that Jay (Beaumont) got in touch with me with an update of what was happening at Matlock and said Matlock would like me to become involved again if I was available.
"When I spoke to the manager Martin (Carruthers) it was all positive, and this works much better for me and for my family with training being quite close to my home.
"I'm delighted to help out in the short term, we'll take it week by week and I'm delighted to be back involved again, filling in wherever and whenever I'm needed."
On his new acquisition, Gladiators boss Martin Carruthers said, "I know what Adam's all about, I wanted to sign him when I was at Basford, he was a much sought after player.
"He's only 32 so he's a spring chicken in footballing terms and he will undoubtedly be a boost to the football club for the short term and hopefully we'll be able to make it a more long term arrangement.
"We're grateful to him for having the willingness to help us out, particularly over the busy Christmas period, he's a fantastic player and I'm delighted to have him on board."
Yates could feature for Matlock Town's in their next fixture against Belper Town on Boxing Day.
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