The 'Purple Rain' singer will kick off his 'Welcome 2 Chicago' concert series on September 24 at the United Centre.
Only one show has been announced so far, but additional shows are expected to be added in the coming days.
'Welcome 2 Chicago' will support the Rebuild the Dream foundation, which seeks to make renovations to struggling communities.
Prince headlined a similar residency in Los Angeles in 2011 as well as a 21-day stay at the O2 Arena in London five years ago.
He released his most recent album 20Ten in 2010.
Watch a promo for Prince's 'Welcome 2 Chicago' concerts below: