Hingis, 34, will compete in the World Group play-offs against Poland at Zielona Gora on April 18th-19th.
The former world number one has not played Fed Cup since the 1998 final which Switzerland lost to Spain in Geneva.
Hingis must play the women's team competition if she wants to compete in the 2016 Olympic Games mixed doubles, perhaps alongside Roger Federer.
Hingis won five Grand Slam singles titles between 1997 and 1999, 43 WTA Tour singles crowns and was once world number one during her prime.
After six years in retirement, she gradually felt her way back on to the doubles circuit, but stopped a second time in November 2007 following a positive test for cocaine.
Since her second come-back in 2013, Hingis only competes in doubles and this season won the Australian Open mixed doubles with Leander Paes and the Indian Wells and Miami doubles titles with Sania Mirza.
Hingis will be joined by 22nd-ranked Timea Bacsinszky, Stefanie Vögele (91) and Viktorija Golubic (236) as Switzerland bid to return to the World Group for the first time since 2004.
MARTINA HINGIS
Hingis set for Fed Cup return after 17 years
Swiss tennis legend Martina Hingis is set to return to Fed Cup duty following a 17-year absence after being called up on Tuesday by captain Heinz Günthardt.
TENNIS
Hingis splits with winning doubles partner
Swiss veteran tennis player Martina Hingis announced on Wednesday she would split from doubles partner Sania Mirza of India, although they will reform for the end-of-season WTA Championships.
The world's top ranked doubles team, the pair started playing together in 2015 and won their first three tournaments before capturing the 2015 Wimbledon and US Open titles as well as this year's Australian Open.
But their 41-match win streak ended in Qatar this year and they were defeated in the fourth round at Roland Garros and Wimbledon quarterfinals.
“After three Grand Slam victories and 11 WTA doubles titles together, we have mutually agreed that we would be open to playing with other players for the remainder of the season,” Hingis and Mirza wrote in a joint statement posted on Twitter.
“Perhaps, because of our great results, we have had very high expectations and unfortunately did not get the results we desired recently.
“We would like to clarify that it was a totally professional decision based purely on our recent results.”
It is understood that Hingis will now play with Coco Vandeweghe of the United States while Mirza joins up with Barbora Strycova of the Czech Republic for the remainder of the regular season.
“The professional decision has not and will not in any way affect the wonderful personal relationship that we continue to share,” they added.
“We also look forward to defending our title in the year-end WTA Finals in Singapore in October for which 'Santina' (their combined nickname) has already qualified.”
Hingis is playing with Swiss compatriot Timea Bacsinszky in Rio; the pair play their quarterfinal match later on Thursday.
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