FC Goa will play their final match of this ISL season on March 6, against playoff hopefuls Kerala Blasters.
Nawaz was a key member of FC Goa's set-up after playing an important role in the club's successful seasons in 2018-19 and 2019-20.
The Brazilian is a versatile football player who can play on either wing and through the middle as an attacking midfielder.
The 36-year-old striker, who won the ISL double of the League Winner’s Shield and the ISL Trophy with Mumbai City last season, has signed a one-year deal.