Briscoe has come to an arrangement in a one-off appearance for the team after weighing up several offers for the famed American open-wheel race.
It will be a home coming of sorts for Briscoe who drove for the Ganassi team in 2005 a couple of seasons ahead of cementing a spot for Penske firstly in the iconic team's American Le Mans Series program followed by a seat in the famous squad's IndyCar line-up which came to an end late last year.
Briscoe, who claimed pole in the Indy 500 last year, is also preparing to make his debut in the Le Mans 24 in in HPD-ARX-03b.
The Sydney-born racer had been angling for a re-entry into the IndyCar series this season but as yet nothing has come to light.
Briscoe kicked off the year in fine style by winning the LMP2 class at the Sebring 12 hour race which paved the way for his start at the famed La Sarthe race in June.