The former Charlton midfielder is hoping to win the National League South for a second time.
Doswell took over this summer after nearly a decade at Gander Green Lane.
Anthony Straker has already joined from Bath City, as has former Sutton players Roarie Deacon, Ross Worner and Dean Beckwith.
Bailey was fantastic for Doswell in his time in south west London, and the manager clearly thinks the 34-year-old has plenty left in the tank.
The Hawks are looking to bounce back to the National League at the first time of asking.
They parted with Lee Bradbury at the end of April and the new manager is confident of a good season after some solid early-summer signings.