I found the answer to my question. The number of distinct 25-letter words formed by knight tours on the Sator square is 276. These words are (in alphabetical order):
NAPATOROTAPATOROTERESERES, NAPATOROTAPATOROTESERESER, NATOROTAPATOROTAPERESERES, NATOROTAPATOROTAPESERESER, NOROTAPATOROTAPATERESERES, NOROTAPATOROTAPATESERESER, NOTAPATOROTAPATORERESERES, NOTAPATOROTAPATORESERESER, PANATOROTAPATOROTERESERES, PANATOROTAPATOROTESERESER, PATONATOROTAPATORERESERES, PATONATOROTAPATORESERESER, PATORONATOROTAPATERESERES, PATORONATOROTAPATESERESER, PATOROTANATOROTAPERESERES, PATOROTANATOROTAPESERESER, PATOROTAPANATOROTERESERES, PATOROTAPANATOROTESERESER, PATOROTAPATONATORERESERES, PATOROTAPATONATORESERESER, PATOROTAPATORONATERESERES, PATOROTAPATORONATESERESER, REPANATOROTAPATOROTESERES, REPATONATOROTAPATORESERES, REPATORONATOROTAPATESERES, REPATOROTAPANATOROTESERES, REPATOROTAPATONATORESERES, REPATOROTAPATORONATESERES, RERONOTAPATOROTAPATESERES, REROTANOTAPATOROTAPESERES, REROTAPANOTAPATOROTESERES, REROTAPATONOTAPATORESERES, REROTAPATORONOTAPATESERES, REROTAPATOROTANOTAPESERES, REROTAPATOROTAPANOTESERES, RESEPANATOROTAPATOROTESER, RESEPATONATOROTAPATORESER, RESEPATORONATOROTAPATESER, RESEPATOROTANATOROTAPESER, RESEPATOROTAPANATOROTESER, RESEPATOROTAPATONATORESER, RESEPATOROTAPATORONATESER, RESEREPANATOROTAPATOROTES, RESEREPATONATOROTAPATORES, RESEREPATORONATOROTAPATES, RESEREPATOROTANATOROTAPES, RESEREPATOROTAPANATOROTES, RESEREPATOROTAPATONATORES, RESEREPATOROTAPATORONATES, RESERERONOTAPATOROTAPATES, RESEREROTANOTAPATOROTAPES, RESEREROTAPANOTAPATOROTES, RESEREROTAPATORONOTAPATES, RESEREROTAPATOROTANOTAPES, RESEREROTAPATOROTAPANOTES, RESERESEPANATOROTAPATOROT, RESERESEPATONATOROTAPATOR, RESERESEPATORONATOROTAPAT, RESERESEPATOROTANATOROTAP, RESERESEPATOROTAPANATOROT, RESERESEPATOROTAPATONATOR, RESERESEPATOROTAPATORONAT, RESERESEPATOROTAPATOROTAN, RESERESERONOTAPATOROTAPAT, RESERESEROTANOTAPATOROTAP, RESERESEROTAPANOTAPATOROT, RESERESEROTAPATONOTAPATOR, RESERESEROTAPATORONOTAPAT, RESERESEROTAPATOROTANOTAP, RESERESEROTAPATOROTAPANOT, RESERESEROTAPATOROTAPATON, RESERESETANOROTAPATOROTAP, RESERESETAPANOROTAPATOROT, RESERESETAPATONOROTAPATOR, RESERESETAPATORONOROTAPAT, RESERESETAPATOROTANOROTAP, RESERESETAPATOROTAPANOROT, RESERESETAPATOROTAPATONOR, RESERESETAPATOROTAPATORON, RESERESETONAPATOROTAPATOR, RESERESETORONAPATOROTAPAT, RESERESETOROTANAPATOROTAP, RESERESETOROTAPANAPATOROT, RESERESETOROTAPATONAPATOR, RESERESETOROTAPATORONAPAT, RESERESETOROTAPATOROTANAP, RESERESETOROTAPATOROTAPAN, RESERETANOROTAPATOROTAPES, RESERETAPANOROTAPATOROTES, RESERETAPATONOROTAPATORES, RESERETAPATOROTANOROTAPES, RESERETAPATOROTAPANOROTES, RESERETAPATOROTAPATONORES, RESERETONAPATOROTAPATORES, RESERETORONAPATOROTAPATES, RESERETOROTANAPATOROTAPES, RESERETOROTAPATONAPATORES, RESERETOROTAPATORONAPATES, RESERETOROTAPATOROTANAPES, RESERONOTAPATOROTAPATESER, RESEROTANOTAPATOROTAPESER, RESEROTAPANOTAPATOROTESER, RESEROTAPATONOTAPATORESER, RESEROTAPATORONOTAPATESER, RESEROTAPATOROTANOTAPESER, RESEROTAPATOROTAPANOTESER, RESETANOROTAPATOROTAPESER, RESETAPATONOROTAPATORESER, RESETAPATORONOROTAPATESER, RESETAPATOROTANOROTAPESER, RESETAPATOROTAPATONORESER, RESETONAPATOROTAPATORESER, RESETOROTANAPATOROTAPESER, RESETOROTAPANAPATOROTESER, RESETOROTAPATONAPATORESER, RESETOROTAPATOROTANAPESER, RETANOROTAPATOROTAPESERES, RETAPANOROTAPATOROTESERES, RETAPATONOROTAPATORESERES, RETAPATOROTANOROTAPESERES, RETAPATOROTAPANOROTESERES, RETAPATOROTAPATONORESERES, RETONAPATOROTAPATORESERES, RETORONAPATOROTAPATESERES, RETOROTANAPATOROTAPESERES, RETOROTAPATONAPATORESERES, RETOROTAPATORONAPATESERES, RETOROTAPATOROTANAPESERES, RONOTAPATOROTAPATERESERES, RONOTAPATOROTAPATESERESER, ROTANOTAPATOROTAPERESERES, ROTANOTAPATOROTAPESERESER, ROTAPANOTAPATOROTERESERES, ROTAPANOTAPATOROTESERESER, ROTAPATONOTAPATORERESERES, ROTAPATONOTAPATORESERESER, ROTAPATORONOTAPATERESERES, ROTAPATORONOTAPATESERESER, ROTAPATOROTANOTAPERESERES, ROTAPATOROTANOTAPESERESER, ROTAPATOROTAPANOTERESERES, ROTAPATOROTAPANOTESERESER, SEPANATOROTAPATOROTERESER, SEPATONATOROTAPATORERESER, SEPATORONATOROTAPATERESER, SEPATOROTANATOROTAPERESER, SEPATOROTAPANATOROTERESER, SEPATOROTAPATONATORERESER, SEPATOROTAPATORONATERESER, SEREPANATOROTAPATOROTERES, SEREPATONATOROTAPATORERES, SEREPATORONATOROTAPATERES, SEREPATOROTANATOROTAPERES, SEREPATOROTAPANATOROTERES, SEREPATOROTAPATONATORERES, SEREPATOROTAPATORONATERES, SERERONOTAPATOROTAPATERES, SEREROTANOTAPATOROTAPERES, SEREROTAPANOTAPATOROTERES, SEREROTAPATONOTAPATORERES, SEREROTAPATORONOTAPATERES, SEREROTAPATOROTANOTAPERES, SEREROTAPATOROTAPANOTERES, SERESEPANATOROTAPATOROTER, SERESEPATONATOROTAPATORER, SERESEPATORONATOROTAPATER, SERESEPATOROTAPANATOROTER, SERESEPATOROTAPATONATORER, SERESEPATOROTAPATORONATER, SERESEREPANATOROTAPATOROT, SERESEREPATONATOROTAPATOR, SERESEREPATORONATOROTAPAT, SERESEREPATOROTANATOROTAP, SERESEREPATOROTAPANATOROT, SERESEREPATOROTAPATONATOR, SERESEREPATOROTAPATORONAT, SERESEREPATOROTAPATOROTAN, SERESERERONOTAPATOROTAPAT, SERESEREROTANOTAPATOROTAP, SERESEREROTAPANOTAPATOROT, SERESEREROTAPATONOTAPATOR, SERESEREROTAPATORONOTAPAT, SERESEREROTAPATOROTANOTAP, SERESEREROTAPATOROTAPANOT, SERESEREROTAPATOROTAPATON, SERESERETANOROTAPATOROTAP, SERESERETAPANOROTAPATOROT, SERESERETAPATONOROTAPATOR, SERESERETAPATORONOROTAPAT, SERESERETAPATOROTANOROTAP, SERESERETAPATOROTAPANOROT, SERESERETAPATOROTAPATONOR, SERESERETAPATOROTAPATORON, SERESERETONAPATOROTAPATOR, SERESERETORONAPATOROTAPAT, SERESERETOROTANAPATOROTAP, SERESERETOROTAPANAPATOROT, SERESERETOROTAPATONAPATOR, SERESERETOROTAPATORONAPAT, SERESERETOROTAPATOROTANAP, SERESERETOROTAPATOROTAPAN, SERESERONOTAPATOROTAPATER, SERESEROTANOTAPATOROTAPER, SERESEROTAPANOTAPATOROTER, SERESEROTAPATONOTAPATORER, SERESEROTAPATORONOTAPATER, SERESEROTAPATOROTANOTAPER, SERESEROTAPATOROTAPANOTER, SERESETANOROTAPATOROTAPER, SERESETAPANOROTAPATOROTER, SERESETAPATONOROTAPATORER, SERESETAPATOROTANOROTAPER, SERESETAPATOROTAPANOROTER, SERESETAPATOROTAPATONORER, SERESETONAPATOROTAPATORER, SERESETORONAPATOROTAPATER, SERESETOROTANAPATOROTAPER, SERESETOROTAPATONAPATORER, SERESETOROTAPATORONAPATER, SERESETOROTAPATOROTANAPER, SERETANOROTAPATOROTAPERES, SERETAPATONOROTAPATORERES, SERETAPATORONOROTAPATERES, SERETAPATOROTANOROTAPERES, SERETAPATOROTAPATONORERES, SERETONAPATOROTAPATORERES, SERETOROTANAPATOROTAPERES, SERETOROTAPANAPATOROTERES, SERETOROTAPATONAPATORERES, SERETOROTAPATOROTANAPERES, SERONOTAPATOROTAPATERESER, SEROTANOTAPATOROTAPERESER, SEROTAPANOTAPATOROTERESER, SEROTAPATORONOTAPATERESER, SEROTAPATOROTANOTAPERESER, SEROTAPATOROTAPANOTERESER, SETANOROTAPATOROTAPERESER, SETAPANOROTAPATOROTERESER, SETAPATONOROTAPATORERESER, SETAPATOROTANOROTAPERESER, SETAPATOROTAPANOROTERESER, SETAPATOROTAPATONORERESER, SETONAPATOROTAPATORERESER, SETORONAPATOROTAPATERESER, SETOROTANAPATOROTAPERESER, SETOROTAPATONAPATORERESER, SETOROTAPATORONAPATERESER, SETOROTAPATOROTANAPERESER, TANOROTAPATOROTAPERESERES, TANOROTAPATOROTAPESERESER, TAPANOROTAPATOROTERESERES, TAPANOROTAPATOROTESERESER, TAPATONOROTAPATORERESERES, TAPATONOROTAPATORESERESER, TAPATORONOROTAPATERESERES, TAPATORONOROTAPATESERESER, TAPATOROTANOROTAPERESERES, TAPATOROTANOROTAPESERESER, TAPATOROTAPANOROTERESERES, TAPATOROTAPANOROTESERESER, TAPATOROTAPATONORERESERES, TAPATOROTAPATONORESERESER, TONAPATOROTAPATORERESERES, TONAPATOROTAPATORESERESER, TORONAPATOROTAPATERESERES, TORONAPATOROTAPATESERESER, TOROTANAPATOROTAPERESERES, TOROTANAPATOROTAPESERESER, TOROTAPANAPATOROTERESERES, TOROTAPANAPATOROTESERESER, TOROTAPATONAPATORERESERES, TOROTAPATONAPATORESERESER, TOROTAPATORONAPATERESERES, TOROTAPATORONAPATESERESER, TOROTAPATOROTANAPERESERES, TOROTAPATOROTANAPESERESER.