Noble, 20, joined the Cumbrians for an initial month in August last year, but his stay was extended until the end of the season and he made 24 appearances, scoring three goals.
Carlisle manager Greg Abbott said: "We know all about Liam now and we're delighted he's coming back to us.
"Sunderland have been fantastic with the way they have dealt with this one and I'd like to thank Steve Bruce and the staff over there for the way that things have been done.
"We'll get him here, we'll look after him, and hopefully he'll reproduce the form that we were starting to see from him last season. He has a few rough edges, we know that, but we think he could go on to be a very good player."