Bjorn Borg will line up at the BlackRock Masters at London's Royal Albert Hall in December.
Five-time champion Borg was a spectator at Wimbledon this year
The five-time Wimbledon champion, who last played at the event in 2000, accepted a wildcard to take on a field featuring 12 former champions.
"It's like coming back to Wimbledon. Matches are matches and I missed the Tour," said Borg.
"It's an opportunity to see the guys again. It's a great atmosphere off the court with them."
He added: "We have a lot of fun, it's a nice feeling and I missed them."
The Albert Hall event will be shown on BBC Television.
Meanwhile, Borg has tipped Spain's Rafael Nadal to claim a first Wimbledon title in 2008.
Nadal wants to prove to the whole world that he can win Grand Slams on different surfaces
Three-time French Open champion Nadal lost to Roger Federer in the 2006 and 2007 All England Club finals but Borg expects him to end that run next year.
"If I would pick a winner for Wimbledon next year, I'd pick Nadal," Borg said. "He's really ready to win Wimbledon.
"He knows he can play on grass now and he knows he can win at Wimbledon. He's improving every year."
Like Nadal, Borg's game was more suited to clay, but the Swedish legend adapted his game to win five successive titles on the Wimbledon grass between 1976-80.
Federer equalled that record by defeating Nadal in a hard-fought, five-set battle this summer but Borg expects Nadal to now show he has championship credentials on all surfaces.
"Rafa was unlucky not to win the final [this year]," said Borg, 51.
"He can play on any surface, he wants to prove to the whole world that he can win Grand Slam tournaments on different surfaces and I'm sure he will, absolutely."