The 20-year-old has had some experience in the Cherries' senior side, having been part of two FA Cup games across the past two seasons.
Lee had a loan spell at Torquay in the 2016-17 campaign, and now he has returned to Plainmoor on a temporary deal until January.
The club's player-manager Kevin Nicholson told the Gulls' official website: "It's great to have Jordan Lee back in the building. I've known he was coming back for pretty much two months now, but until he walks through the door you have to keep these things quiet.
"Jordan showed us all last season that he's a great athlete, a great pro, and very mentally strong. He came through a tough start to life at the club, and he finished the season as one of our best players.
"I'm sure he won't take long to bed in again. We have a lot of new faces here, and we will soon get him up to speed. This signing gives us great strength in depth down both sides of the team. He will be pushing everybody else now, while trying to establish himself back in the side."
As well as in the full-back position, Lee played in a midfield role at Torquay.