At the end of IPL-5, Gilchrist had said that the final game for the Kings XI Punjab would be his last in the Twenty20 tournament.
But Tuesday, Gilchrist was among the 19 players whom Kings XI retained for the next season.
Gilchrist said he would honour the decision made by the franchise.
"Franchises made the decision to keep me on the team list. Yes, I had earlier said that I had played my last game but I think I'm fit enough to have another go," he said during a promotional event for the University of Wollongong.
"Indications are I will be playing in the IPL 6."
Gilchrist's announcement of calling time on his IPL career had left even the franchise stunned. He said his decision was spurred by the injury that forced him to miss a large part of IPL 5.
Gilchrist is one of the seven internationals who have been retained by Punjab. Former Pakistan all-rounder Azhar Mahmood, now a British citizen, Australians David Hussey, Ryan Harris, Shaun Marsh, South African David Miller, and Englishman Dimitri Mascarenhas are the others.