Following a brief six month spell with Greek side, Panetolikos the 24-year-old linked up with The Saddlers last summer, and after making an appearance in a pre-season game against AFC Telford United he penned a one year deal.
Febian had become a firm fans' favourite last season, he made thirty-seven first-team appearances for the club and notched seven goals.
Last week Walsall manager Dean Smith had revealed Febian's desire to play in the Championship but also revealed the striker was in talks with Sheffield United.