"I guess the word is out! Although I can't say in what capacity or how long for, I'm very excited to be returning to The Young and the Restless," Grimes shared on Facebook. "It feels just like coming home."
Grimes originated the role of Cassidy "Cassie" Newman, Nick and Sharon's daughter, in 1997. In 2005, fans were stunned when the character was killed off. Grimes has, however, made occasional appearances over the years as Cassie's spirit.
In 2000, Grimes was awarded a Daytime Emmy in the Outstanding Younger Actress field, becoming the youngest actress to win in the category.
Y&R has not confirmed that Grimes is reprising her Emmy-winning role.
Since leaving daytime, Grimes has found work in primetime and in film. Her most recent notable role was as "Birthday girl" in the film Magic Mike.
Grimes will first air on July 8.