Martin, who was the first baby to be born on the show after it began in 1985, will be played by James Bye – who will become the third actor to portray the character.
James Alexandrou, who played Martin from 1996 to 2007, is said to have given his blessing to James being given the role.
James Bye will be the third actor to play the role of Martin Fowler
New actor James, who describes himself on Twitter as a "British Actor, Terrible Golfer, Proud Daddy and Hubby!", spoke of his excitement at being cast in the soap.
"So proud to be part of the Fowler clan," he tweeted. "A massive opportunity and a huge thank you to @dominictc #EastEnders #bigshoestofill #firedup."
"It's a huge opportunity for me to put my own stamp onto an iconic character," he added in an official statement. "I can't wait to get started."
James previously starred in The Hooligan Factory
EastEnders' executive producer Dominic Treadwell-Collins also spoke of his enthusiasm for Martin's return to the show, seven years after he left in 2007.
"Martin is an EastEnders original," he said. "The first baby born on the Square and part of the show's roots - and, as we celebrate 30 years on Albert Square, it's important to look backwards as we move forwards."
James Alexandrou played Martin from 1997 to 2007
Upon his return, Martin is thought to be seeking to reconcile with his wife Sonia, who is played by Natalie Cassidy.
The on-screen couple have a daughter called Rebecca together, who was born in 2000 much to the surprise of her parents who had no idea they were expecting a baby.
Martin's parents are Arthur Fowler and his wife Pauline, who was played by the late Wendy Richard, and is the younger sibling of Michelle and Mark Fowler.