The 27-year-old makes the move to the Falkirk Stadium on a two-year deal having most recently been at Ross County in the top flight, although he spent the latter part of the season on loan at the Pars.
Boss McGlynn has had Donaldson in his ranks before, when he was just starting out at Livingston as a youth player, coming through the development side.
Donaldson becomes the club’s second signing in the same number of days, following the arrival of Liam Henderson yesterday.
“I’ve known Coll for a good few years, I had him at Livingston,” McGlynn explained. “He’s got a good presence, he’s a big lad, really good on the ball. He’s played in the Premiership and has a lot of experience under his belt.
"I’m absolutely delighted to bring a player of his calibre into the club and I think he will help us no end going forward. I’m looking forward to working with him again.”
Donaldson added: “I’m really looking forward to it. As soon as I spoke to John I was keen on being involved in the whole project that he put forward to me, so looking forward to getting started and a tough pre-season, but I’m used to that.”