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Lancashire, who is a 28-year-old centre back, becomes the fourth player and the second centre half, to sign terms at the County Ground this summer, as David Flitcroft is rebuilding Swindon Town following last season's relegation.
His arrival comes after Chris Robertson and James Dunne joined on free transfers from AFC Wimbledon and Cambridge respectively as well as Paul Mullin from Morecambe who was out of contract at the Shrimpers but Town had to pay a compensation fee for as he was under the age of 23.
New man Lancashire joins from Shrewsbury, following the expiration of his contract, but he has not played for Salop since January 2 as manager Paul Hurst, who joined the club in September, does not rate him.
Lancashire began his professional career at then-Championship Southampton, after being on the books of Crystal Palace, and he made 15 appearances for the Saints between 2007 and 2010. He was sent off twice,
In 2009 and 2010 he had three loan spells out at the same side - Grimsby, and he played 25 matches for the Mariners, scoring once, as they were relegated out of the Football League.
He then moved on to Walsall in League One and, while there, the Saddlers narrowly avoided relegation twice, as they finished 20th and then 19th, in his two seasons at the Midlands. He played 49 games and scored once.
League Two Aldershot was next for Lancashire. His one year at the Shots was plagued with injury but he did manage to play 13 games as they were relegated and he was made redundant after the club went into adminstration.
His best spell would come at Rochdale, however. He made 93 league outings for Dale and won promotion with the club in his debut season, as they finished third in League Two and the following season, in League One, they earned an eighth-placed finish and were six points adrift of a play-off place.
In the 2015-16 season, as Rochdale finished 10th, he scored against Swindon in a 2-1 loss for his side at the County Ground - one of his two goals for the club.
Shrewsbury signed him on a free transfer in the summer of 2016, on a two-year deal, but and he made 16 appearances for the Shrews, scoring one goal.
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