The 28-year-old striker put pen to paper on his deal at the weekend and becomes the club's third new signing of the close-season following the arrivals of Adam Lockwood and Will Hatfield.
Craddock began his career at Middlesbrough before permanent spells at Luton Town, Pompey and Oxford, with the FA Youth Cup winner set to offer Mark Bower a further option ahead of the Vanarama National League campaign.
"He's a player I know from earlier in my career," said Bower.
"He's been impressed with the players around him and he's sure he'll be able to score goals for us. I'm confident he's got the qualities to fit into the way we play.
"I'm sure he'll be a success for us. I'm not too fussed about what other people think about us, we're just going about our business how we want to do it and getting the players in who we think will help the squad.
"It's obvious we've been a bit short at the top end of the pitch and Tom's got good quality into feet, he brings other players into play and his goalscoring record is top notch so hopefully we can get the best out of him and he can enjoy his football again."
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