The 18-year-old, who made nine appearances for the Pilgrims during an earlier loan spell this season, is back at the Jakemans Community Stadium until mid-January initially.
"I am delighted to get Jake back on loan," reflected manager Craig Elliott.
"He showed what a very talented young player he is earlier in the season. Jake's qualities will fit right into our style of play, plus he has the added bonus of knowing the other players and how we work, so settling in should be a smooth transition for all parties."
Leake will, once again, wear squad number 25 for the Pilgrims.