Clarke, now 38, had recently spent a three-game spell at League Two Hartlepool United but checks in at the Pics with a target of firing them to promotion.
The veteran frontman, from Birmingham but a product of Wolves’ academy, has enjoyed a lengthy and goal-laden career with 154 goals across more than 500 games. Rushall are his 21st club.
He netted 18 times in 115 outings for Wolves across two spells, between 2003 and 2007 and then in 2013/14, as a League One promotion-winner, and 2014/15.
The pics, in the final play-off position of fifth in their division with a buffer of nine points, head to struggling Bedford Town today.
“I am delighted to be able to bring him to the football club and I look forward to working with him,” said Rushall boss Liam McDonald. “His career speaks for itself, he has played for some massive clubs and scored a lot of goals along the way.
“It’s an opportunity for us to use his vast experience between now and the end of the season.
“He was keen to come here, which was important; the move is right for him and he is relishing the challenge. The lads can only learn from him during what is a big end to the season for us with plenty to play for.”