The ex-England winger appeared for the club at the weekend for the first time in more than ten years.
Guppy had teamed up with the squad for training sessions since caretaker duo Keith Ryan and Gary Smith took charge of the side a fortnight ago.
Following the appointment of former England assistant, John Gorman as Wycombe manager, it was agreed Guppy will continue training and could be in contention for more appearances.
"Although they never say come back I am delighted to be back," said Guppy.
55% of you voted for former Wycombe manager Tony Adams to sign Guppy on loan in September. At the time he was at Stoke City, who were flying high at the top of the Championship, but he managed only four appearances as substitute, and injury eventually ended his spell at the Britannia.
Guppy came through a reserve game for Woking in midweek, before playing in most of Wycombe's home win on Saturday.
"I have been struggling with injury and it’s been a challenge to get fit," he added.