TBWA first worked on the £5m Gossard account in 2001, when the agency took the brief from Partners BDDH, which had only held the account for five months.
The lingerie brand was previously with Abbott Mead Vickers BBDO.
During this relationship, the TBWA chairman and creative director, Trevor Beattie, wrote the TV campaign for Gossard in which a woman in mismatched underwear is rushed to hospital.
TBWA lost the business in 2002 after Beattie fell out with the then marketing director, Shaeren McKenzie, over the creative strategy.
McKenzie hired WARL Change Behaviour last year but left Gossard shortly afterwards in July.
TBWA's return to Gossard, which is owned by Sara Lee, follows the appointment of Stephen Holbrook as marketing director.
Beattie said: "I'm absolutely delighted. Having worked with Playtex, Gossard and Pretty Polly [all owned by Sara Lee] over the past 10 years, this feels like the start of the next chapter.
"I have always felt a bit of a family tie between TBWA and Sara Lee."
Beattie has pledged to work personally on the creative account, which will initially involve launching a "revolutionary" product range.
Holbrook said: "We are delighted to be teaming up with the TBWA team. Trevor has already come up with a couple of genius ideas so I can't wait for the launch."
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