Good Morning America teased the veteran dancer's return for season 29 on Wednesday in a cryptic tweet.
Hough last competed as a pro on the show during season 23, after taking the previous season off.
Hough has won a record number of six mirrorball trophies. He took home the top prize with celebrity partners Brooke Burke (season 7), Nicole Scherzinger (season 10), Jennifer Grey (season 11), Kellie Pickler (season 16), Amber Riley (season 17) and Bindi Irwin (season 21).
While his track record as a pro is hard to match, many fans speculated the announcement could mean he's going to be a judge or even possibly a co-host alongside Tyra Banks.
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"I was pretty shocked," Hough told Bevy Smith during an episode of Bevelations on SiriusXM's Radio Andy.
"I think Tom Bergeron is such a staple of Dancing with the Stars, and he's a good friend of mine. He's a good man," added Hough, who left his position as a DWTS pro in 2016 to host World of Dance. "He's been there from the beginning, and you know he's just a great guy."
Hough also raved over Banks, who was confirmed as the new host earlier this summer.
"I have come in contact with [Banks] several times. I think she's fantastic. I thought she was a fantastic host on America's Got Talent," Hough said.
"I feel optimistic. I think she'll do fantastic. As far as my history [with the show], I was definitely shocked about Tom," Hough added. "For me, I'm always sort of a cheerleader for the show to succeed ... especially for shows I've been a part of. I want Dancing with the Stars to succeed and do well, and I hope it does."
For Hough, DWTS has been a family affair; his sister Julianne Hough was a pro from 2007-2009 and a judge from 2014-2017.