
35-year-old Naylor joins Dutch defender Sem de Wit in the Saddlers' XI as they continue to look at players following the closure of the transfer window last week.
Walsall-born Naylor is a product of the Wolverhampton Wanderers youth system, and made almost 300 league appearances for Wolves before joining Celtic in 2006.
Lee made one hundred league appearances for the Scottish giants before joining Cardiff City in 2010.
Following two years with the Bluebirds he went on to join Accrington Stanley and finally Derby County before being released at the end of last season.
Walsall-born Naylor is a product of the Wolverhampton Wanderers youth system, and made almost 300 league appearances for Wolves before joining Celtic in 2006.
Lee made one hundred league appearances for the Scottish giants before joining Cardiff City in 2010.
Following two years with the Bluebirds he went on to join Accrington Stanley and finally Derby County before being released at the end of last season.