He will join in the summer after agreeing what the club describe as “a long-term deal”.
He is the second player from Argentina to commit his future to the Warriors this month following the announcement that stand-off Domingo Miotti would be moving to Glasgow in the close season.
Like Miotti, Cancelliere played with the Jaguares franchise in Super Rugby. The pair helped the Jaguares reach the 2019 Super Rugby final, and Cancelliere scored five tries in 11 appearances.
The 27-year-old is a product of the Hindu club in Buenos Aires and has won ten caps for Argentina. He made his international debut as a substitute against England in 2017 and won his last cap against South Africa in Pretoria in 2019.
He has faced Scotland twice. He started in the 44-15 defeat against Gregor Townsend’s side in Resistencia in summer 2018 and then featured as a replacement in the 14-9 loss in Edinburgh later that year.
His arrival further strengthens Glasgow’s back three options for next season. The club have already added New Zealanders Josh McKay and Cole Forbes and they will join homegrown talents Ollie Smith and Rufus McLean.
Glasgow coach Danny Wilson said: "Sebastian is a quality player with plenty of international and Super Rugby experience.
“He’s a quick evasive winger and his skill set will complement the style of rugby at Glasgow. It’s great to be able to add another skilled attacking option to our back three for next season.”
Cancelliere added: “I enjoy playing fun dynamic rugby and getting the ball in space, and Glasgow’s style will offer that to me.”