The 32-year-old represented Man United between 2002 and 2006, but failed to make a single Premier League appearance for the Red Devils before joining West Bromwich Albion, where he also struggled to settle.
Steele made over 200 league appearances for Barnsley between 2008 and 2014, however, before leaving for Panathinaikos, where he is fast closing on 100 league appearances for the Greek outfit.
"I'm really enjoying it", Steele told Goal.com. "I've been here nearly two years now and it's just like joining any other new club as a new player - you have ups and downs - but when you're abroad you sometimes blame it on the fact that you're abroad. There's been so many challenges within my life as well as football but it's been exciting but I'm really enjoying it and I'm happy to stay here at the moment.
"You've got the distance from your friends and family which is a huge thing. I've always had that because I've lived away from home but this time it's not just a couple of hours on the car or train. You have to plan it and you have to have days off to go and see them - so it can be months without seeing the family especially if we're playing in Europe.
"There's no other English players which means you have to make friends with other nationalities which has been a challenge when there's different cultures. The day to day life like going to the bank and shops can also be harder than it should be but I've enjoyed learning the different things."
Steele has previously been capped at Under-18, Under-19 and Under-20 level for England.