The news comes after the Australian Formula 1 driver parted ways with McLaren during the mid-season break.
The eight-time-Grand-Prix winner has now come full circle after leaving Red Bull for Renault F1 in 2018.
Ricciardo, 33, initially left Red Bull fearing he would become the team’s number two driver behind Max Verstappen.
And now four years later, he is returning to the team as number three driver behind Verstappen and Sergio Perez.
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Ricciardo said he was excited to be back to his roots.
“The smile says it all. I’m truly excited to be coming back home to Oracle Red Bull Racing as their third driver in 2023,” he said.
“I already have so many fond memories of my time here, but the welcome from Christian, Dr Marko, and the entire team is something I’m sincerely appreciative of.
“For me, the ability to contribute to and be surrounded by the best team in F1 is hugely appealing, whilst also giving me some time to recharge and refocus.
“I can’t wait to be with the team and support them with simulator work, testing sessions, and commercial activities. Let’s go!”
Daniel Ricciardo Red Bull return
Red Bull team principal Christian Horner also issued a statement echoing Ricciardo’s sentiment.
“It is great to bring Daniel back into the Red Bull family. He has enormous talent and such a brilliant character; I know the whole factory is excited to be welcoming him home,” he said.
Ricciardo revealed he was leaving McLaren this year with a video message to his fans on Twitter.
“Obviously, we put in a lot of effort on both sides, but it just hasn’t worked,” he said.
“So, the team has decided to make a change for next year… and we mutually agreed it was the right thing to do.”