The bassist was fired from the group in 2004 and focused on his other band Mondo Generator.
"Nick has re-joined Kyuss, and has recently recorded his vocals on a new Queens of the Stone Age song! Stay tuned," a post read on the Mondo Generator Facebook page.
Oliveri was sacked in 2004 amid rumours that he had been physically abusive towards his girlfriend, but he and the band's frontman Josh Homme later reconciled.
The bassist was arrested in 2011 on suspicion of domestic violence and later charged with drugs and firearms offences.
Oliveri pleaded guilty to one count of cocaine possession, while the other charges were dismissed. He was sentenced to probation and community service.
Last year, Homme said that it was not yet the right time for Oliveri to perform with Queens of the Stone Age.
Oliveri founded Kyuss spinoff band Kyuss Lives! in 2010 and quit the band earlier this year.
Watch the video for Mondo Generator's 'So High' below: