The European Tour made the announcement as it unveiled the golfing calendar for 2017.
The European Tour also revealed its international schedule for the 2017 season will feature a minimum of 48 tournaments, one more than in 2016.
Following recently-appointed Ryder Cup Thomas Bjørn’s victory at Penha Longa in Sintra back in 2010, the Tour announced that the tournament will be played at Morgado Golf Resort in Portimão from 11 to 14 May after a six-year absence.
The Portugal Masters has meanwhile been brought forward to 21 September, and will once again be played at Victoria Course in Vilamoura.