The event, which attracts top darts players, will be held at Wolverhampton's Aldersley Leisure Village from November 13 to 21.
The prestigious nine-day tournament features 32 players, who initially compete in eight groups before a knockout phase sees the stars challenge to win the Eric Bristow Trophy.
The Grand Slam has proven hugely popular in Wolverhampton since being introduced in 2007, with the legendary Phil Taylor claiming six wins in the event before his retirement.
Michael van Gerwen picked up three straight titles from 2015 to 2017, while Gerwyn Price won back-to-back Grand Slams at the Aldersley Leisure Village in 2018 and 2019.
Last year saw Portugal's Jose de Sousa claim a remarkable win as the event took place behind closed doors due to the pandemic - and he will defend his title in front of fans in the return to Wolverhampton this year.
The 2021 Cazoo Grand Slam of Darts will see the likes of De Sousa, Price and Van Gerwen joined in the field by televised finalists including World Matchplay winner Peter Wright, Premier League champion Jonny Clayton, UK Open winner James Wade and World Championship runner-up Gary Anderson.
Councillor Steve Evans, Wolverhampton Council’s cabinet member for events, said: "Wolverhampton is the spiritual home of the Grand Slam of Darts and we’ve been proud to host this event for the past 14 years, welcoming the best darts players in the world and their fantastic, passionate fans who create an amazing, fun atmosphere. We are delighted to have them back after the unavoidable gap last year due to Covid.
"This is all part of our overall five-year events strategy to bring the very best in art, music and sport to the city to boost the local economy, create new jobs and build an outstanding cultural reputation.
"As well as our Relight Festival later this month and the Grand Slam of Darts this autumn, next year is also shaping up to be a huge year for events in Wolverhampton with the Cazoo Players Snooker Championship adding to British Art Show 9, Creation Day music festival, Commonwealth Games cycling time trial, and the reopening of the refurbished Civic Halls."
For more information and tickets for the Grand Slam of Darts, visit www.pdc.tv