And he will be joined in the Wasps midfield by fellow England international Fraser Waters, who was another long-term casualty last term due to ankle trouble.
"I am really looking forward to getting back on the pitch and playing some rugby," said Abbott. "The leg has healed well, and I am feeling fresh and fit.
"There will be fierce competition for places in the centre for Wasps this season, with myself, Fraser Waters, Ayoola Erinle, Rob Hoadley and even Josh Lewsey challenging for a start there, so I am looking to put in a good performance early on."
Abbott, 27, made his England debut in a World Cup warm-up game against Wales two years ago, and has won seven caps. He featured three times during the successful 2003 World Cup campaign, being involved in victories over Samoa, Uruguay and Wales.
And a fully-fit Abbott would undoubtedly challenge for an England midfield place, ahead of the autumn appointments with Australia, New Zealand and Samoa at Twickenham.