'Tom Oliver is one of our all-time favourites,' Neighbours executive producer Jason Herbison told the online outlet.
'In Lou Carpenter has created one of Australian TV’s most iconic characters. And, as with all things Ramsay Street, we try to keep our storylines unpredictable and surprising. Watch this space.'
The 78-year-old has been a popular character since he first debuted on the long-running soap in 1988. Famously, his six month stint was turned into a full-time role when fans petitioned for his return.