The England Sevens international has joined the Aviva Premiership club after completing his degree at Oxford University.
Cheesman initially came through the Wasps academy before heading to Oxford, where he was coached by former England boss Brian Ashton and played in three Varsity matches.
The 22-year-old continued to represent Wasps during his studies and he has returned to the club as their 12th senior signing ahead of the new season.
"I am thrilled to be returning to what I consider my rugby playing home," said Cheeseman.
"Under the guidance of Brian Ashton it's great that I've been able to be part of Oxford University's rugby club whilst studying.
"My goal has always been to play Premiership rugby and to be back at Wasps doing so is an honour."
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