The prestigious Hong Kong Masters was last held in 2017 and proved a popular event with fans and players.
The last edition was held at the Queen Elizabeth Stadium - a venue recognised by many competitors as one of the best in the sport.
This October, the tournament will move to the Hong Kong Coliseum for the first time ever. This venue is the largest indoor stadium in Hong Kong, with a maximum capacity of 10,000.
The Hong Kong Billiard Sports Control Council will invite the top eight players, including snooker icons Marco Fu and Ng On Yee, to take part in the four-day event.
WST Chairman Steve Dawson said: "We are excited to bring this event back to the calendar for the first time in five years and we are thrilled to be working with HKBSCC on what will be a fantastic tournament.
"Many of the world's top players described the 2017 Hong Kong Masters as one of the best atmospheres they have ever played in, and this is another opportunity for them to experience the support of the local fans."
HKBSCC Chairman Vincent Law said: "The Hong Kong Masters will be the first major international sport event in Hong Kong since we were hit by the pandemic. There is no better occasion to show to the world that Hong Kong is back for business.
"We hope the tournament this time will set more records and bring excitement that the public have been longing for.
"We are thankful to WST for its support to billiard sports in Hong Kong. We hope the players and the people of Hong Kong will have some fun."
The Hong Kong Masters will run from October 6 to 9. The last edition of the tournament saw Neil Robertson beat Ronnie O'Sullivan 6-3 in the final.