The experienced 31-year-old front man, who scored 64 times for Wolves between 2008 and 2015 has enjoyed a prolific career playing for host of big club including Manchester United, Plymouth Argyle, Wolverhampton Wanderers, Ipswich Town and Preston North End.
The forward also had spells in League one at Chesterfield where he scored 11 goals over two seasons before joining Shrewsbury Town in August 2016.
Boss Rob Edwards spoke of his delight at securing the former Wolves man by telling his club`s official website: “I am absolutely delighted to have secured the signing of Sylvan. He has been training with us for a while and we thought it may not happen at one point, but I am very happy to have got him signed and he will no doubt become a real coup for the club.
“Sylvan joins the club with a great attitude and feels he has a point still to prove in his career.
“It’s important we don’t expect too much too soon. However, with his experience he will be able to help the younger players in the squad and will become a really positive addition to the team.”
Ebanks-Blake could make his debut when the Bucks host Droyslden in the Buildbase FA Trophy tomorrow.