(CNN) Guitarist John Frusciante is rejoining the Red Hot Chili Peppers, 10 years after he last left the band, bassist Flea said.

The band is "parting ways" with Josh Klinghoffer, who replaced Frusciante after he left in 2009, Flea said on Instagram.

The band announced Frusciante's return "with great excitement, and full hearts," while expressing gratitude to Klinghoffer for his time with the band and "the countless gifts he shared with us."

It's Frusciante's third time around with the group. The band formed in the early 1980s, and Frusciante joined them about a year before their 1989 breakthrough album, "Mother's Milk," was released.