The 26-year-old fills the Pies’ remaining list spot following the recent injury news of Charlie Dean, view here who has been placed on the Inactive List.
Since January, Markov has spent some time training with Collingwood as part of the AFL’s Supplemental Selection Period.
The South Australian has made 51 AFL appearances following five seasons with Richmond before a two-year stint with the Gold Coast Suns.
“Oleg adds depth at a position of need – he has speed and running power – and he is a quality young man who impressed us during his time with us over the preseason,” Collingwood GM of Football Graham Wright said.
“We look forward to welcoming Oleg back to our program in the coming days as we continue our preparations for the 2023 season.”