Cosby made the announcement Friday, his 76th birthday, USA Today reported.
The special, "Far From Finished," is set to air Nov. 24.
Cosby's last special, "Bill Cosby: Himself," aired in 1984 on NBC and laid the groundwork for his Emmy-winning sitcom, "The Cosby Show."
The comedian said in a statement the reason for his return is "because ... funny is funny."
"Far From Finished" will be a compilation of Cosby's stand-up material performed this summer, USA Today said.
Robert Townsend will direct the special.
Gal Gadot cast as Wonder Woman for 'Batman vs. Superman'
Toddler uninjured after being knocked over by Obama family dog