The 24-year-old quit the show in August when his character left for Trinity College, Dublin, after his affair with John Paul was dramatically exposed at Craig and Sarah's (Loui Batley) engagement party.
With his heart set on rekindling his romance with John Paul (James Sutton), Craig makes a shocking return just as the dust settles in the wake of John Paul's relationship with Father Kieron Hobbs (Jake Hendriks) being exposed to the village.
Sarah's feelings for Craig are also pushed to the limit as she attempts to put the devastating revelation that her lover was involved in a gay love affair well and truly behind her.
Meanwhile, Craig's mother Frankie becomes so embroiled in her family deceit that it's not long before Craig uncovers some shocking skeletons hiding in the family closet.
Speaking of his decision to return, Guy said: "I've had so much support from the McDean fans since I left the show and so it’s great to have the opportunity to reprise the storyline and give viewers a resolution to the Craig and John Paul story."
Producer Bryan Kirkwood added: "The Craig and John Paul story is one of the biggest and most successful that Hollyoaks has told, winning many awards and legions of fans. I'm delighted that Guy has agreed to come back and excited to see how viewers will react to what we have in store."
Last week, it was announced that Guy would also be making an appearance in Hollyoaks' latest bank of late night spinoff episodes.
Guy returns to filming next month and will make his screen comeback in early September.