Button, 37, has been drafted in to replace former McLaren team-mate Fernando Alonso, who will skip the streets of Monte Carlo to race in the Indy 500.
Button, who retired at the end of last season, said of his return: "I'm thrilled to be making a one-off return to Formula 1 racing, and I couldn't think of a better place to make that return than my adopted home Grand Prix: Monaco". I would never miss a race in formula one, as Fernando will.
The switch has been made easier by McLaren's lack of competitiveness in Formula One, with the once-great team now last in the championship without a point after two races and Alonso clearly frustrated with the situation.
The former Formula One champion, 37, retired at the end of last season but apparently it took just a two minute phone call to persuade him to race in place of the 35-year-old Spaniard - who is unavailable as he's travelling to the United States to take part in the Indianapolis 500 this weekend.
Button is officially McLaren's reserve driver but had been expected to fulfil a more ambassadorial role for the 2017 season after effectively retiring in December.
"Winning in F1 is great, winning eight world championships in F1 would be great to have one more than Michael but that is very, very unlikely because I don't have time to do that".
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"After that I will go to the Spanish Grand Prix and then fly to America on Sunday after the race because the free practice is on Monday at midday. If I can race together with F1 and other series as I am doing this year it will be okay, if not I will only do F1".
The Spaniard and McLaren-Honda shocked the racing world this week by announcing that they will tackle the fabled Indy 500 next month, even though it clashes with Monaco.
Button, however, is hopeful his years of experience around Monaco can provide McLaren with a much needed lift on a track where raw power is not crucial.
McLaren won at Indianapolis in the 1970s, and have also triumphed at Le Mans, with Alonso now dreaming of a Triple Crown that only one driver - Britain's Graham Hill - has achieved. "So I think he needs to see a psychiatrist personally".
"I will be next weekend in Alabama, just vising the race, meeting the team members", he said. McLaren and Honda are working on rebuilding their 2017-model vehicle but there is no guarantee it will be any more competitive than their current effort. "Because Zak is American he was pushing for the Indy 500 - and because Eric is French he was pushing for Le Mans..."
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