The comedian has reportedly agreed terms to host this year's Labour Day telecast, despite an announcement earlier this month that he had been replaced.
Lewis announced his intention to step down as chairman of the MDA in May after over 40 years, but implied that he still planned to front the 2011 MDA Telethon.
However, the MDA announced at the start of August that American Idol executive producer Nigel Lythgoe and The Biggest Loser's Alison Sweeney would instead co-host this year's event.
"Lewis and the Muscular Dystrophy Association have made peace," an source close to Lewis told the Las Vegas Review-Journal this past week.
Both Lewis and the MDA have yet to officially announce whether he will indeed host one final telethon.
This year's event will include performances from the likes of Celine Dion, Martina McBride and Jordin Sparks, and will air over six hours on September 4.