Jones was a free agent having left Sheffield Wednesday on Tuesday, after agreeing to leave Hillsborough by mutual consent.
"There’s an abundance of good players here all with Championship pedigree - I think they’ve shown that in the last three or four seasons," he said.
"I watched the game at the weekend [a goalless draw between Donny and Wednesday] and I didn’t think there was much between the two sides, which bodes well for the future."
Jones is the Iron's record signing, having joined from the Scottish Premier League side Hibernian in the summer of 2009.
His time at Glanford Park was not one he will remember too fondly, though, and he ended the 2010/11 season on loan at Wednesday before making the move permanent on a free transfer last summer.
He captained the Owls to promotion from League One as runners-up last season, but left when it became clear he would not be a first-team regular in the Championship.
"On reflection it was a fantastic season for me and for the club, but sometimes you get opportunities to progress and move on in the way that you want to," he added.
"This was an option that excited me, and it gave me a chance to come here, to a great stadium, good fanbase and a good club – sometimes it’s time to move on."