The 32-year-old recently announced his retirement from the professional game, leaving Raith Rovers after only two months with the Kirkcaldy club.
He then joined Troon in the Scottish junior leagues, playing once before he was contacted by Strikers’ manager Craig Lewis about a possible switch down under.
Stevenson’s move will be completed once he receives his visa and the club are given international clearance.
Lewis told the Mornington Peninsula news: “I was talking to a former teammate a few weeks back and Ryan’s name cropped up so I decided to contact him through facebook and he responded straight away so we’ve been on the phone almost every day since.
“He was really keen from the outset and told me that he’s got a mate who came over a couple of years back and told him that it was the best move he’d ever made and that he should get over here the first chance he got.”
Stevenson spent four years at Hearts across two separate spells earlier in his career. He also played for St Johnstone, Ayr United, Ipswich Town, Partick Thistle and Dumbarton.