The 74-year-old actor will reprise his role of Adam Chandler on the show, which is in production now. Canary played the character from 1983 to 2010 and won five Daytime Emmy Awards for Lead Actor in a Drama Series.
Also announced Wednesday as returning are Sal Stowers as Cassandra Foster, Eric Nelson as A.J. Chandler, Denyse Tontz as Miranda Montgomery, Jordan Lane Price as Celia Fitzgerald, Ryan Bittle as J.R. Chandler, Eden Riegel as Bianca Montgomery, Cady McClain as Dixie Cooney, Ray MacDonnell as Dr. Joe Martin, Heather Roop as Jane McIntyre and Francesca James as Evelyn Johnson.
ABC announced in 2011 it was canceling the soap operas "All My Children" and "One Life to Live" to make way for more lifestyle programming on its daytime lineup.
The Online Network secured the rights to the beloved shows and plans to air new episodes later this year on the Internet.