Dallaglio was carried off on a stretcher 21 minutes into the Lions' opening tour game against Bay of Plenty and underwent surgery in Auckland on June 5 to have a plate and five screws inserted into his right ankle.
Initial estimates placed his recovery time at between four and six months - but Dallaglio had vowed to be back playing by October and he has proved true to his word.
The Premiership champions confirmed Dallaglio's return.
Their statement read: "London Wasps are delighted to announce that Lawrence Dallaglio will feature in the squad to face Cardiff Blues in the Powergen Cup on Friday, October 7."
Thoughts will inevitably now turn to England. In the days after suffering his injury in New Zealand, Dallaglio was indicating he might be ready to come out of international retirement.
That ambition has strengthened in recent weeks, and his desire to help England retain the World Cup in France in two years' time burns fiercely.
"When you have had a long-term injury the main priority is to get back on to the rugby pitch in a black shirt, playing for Wasps - and then we'll be able to see what level I am at," Dallaglio said recently.
"I have the desire to play international rugby - but whether I have the ability we'll have to wait and see.
"No matter who you are or what you have done in the game, form and fitness are very, very important."
Dallaglio retired after England's 2004 summer tour to concentrate on his club rugby, though he made himself available for a third Lions tour.
The former England captain will be 35 at the next World Cup - but the likes of Martin Johnson and Neil Back proved age is no barrier to winning the trophy in Australia two years ago.
And England head coach Andy Robinson would welcome Dallaglio back into the fold.
"I would love Lawrence to put himself forward to play for England again. He is still a great player," he said.
"The crucial thing is for him to get back playing and get back to where he used to be.
"I've talked with him about it during the Lions tour and more recently. It would be hard to ignore a Lawrence Dallaglio who was playing the way he was last season and for the opening 17 minutes of that first Lions game before he got injured."
Dallaglio has a maximum of five games to confirm his intentions to come out of international retirement and prove his form and fitness before England's autumn programme kicks off against Australia on November 12.
Otherwise, as seems more likely, any return to England duty could come in time for for next year's RBS 6 Nations.