The 32-year-old will play doubles in the Southern California Open with Daniela Hantuchova in Carlsbad after being granted a wild card
Hingis last played on the women's tour in September 2007 but retired after testing positive for cocaine. She denied using the drug but retired without fighting the ban.
Just last weekend she was inducted into the tennis Hall of Fame.
"I am very much looking forward to making a return to competitive play at the Southern California Open," Hingis told the WTA website.
"I remember winning the singles and doubles here in 1997 and winning the singles again in 1999. This has always been one of my favorite events to play. I feel in good shape at the moment after playing World Team Tennis. My competitive spirit is still very much alive and I love being out on court."
Born in Czechoslovakia and named after Martina Navratilova, Hingis announced her arrival on the world stage when she won the 1993 French Open junior title at just 12 years of age.
She turned professional two weeks before her 14th birthday and went on to achieve a series of youngest-ever records.
Hingis won five Grand Slam singles titles - the 1997, 1998 and 1999 Australian Opens, 1997 Wimbledon and 1997 US Open - and held the number one ranking for 209 weeks.
She also won nine Grand Slam doubles titles and a mixed doubles title before injuries forced her into early retirement at the age of 22.
Hingis made a comeback four years later but retired again after her failed drugs test.