Mr Green had said he would step down from the directorship in July because of other commitments.
However, DQ chief executive Tony Everitt said this week Mr Green had been reappointed to run the 2012 festival and provide a "basic events service" for DQ for the next year.
Mr Green's contract is effective immediately and will run until the end of August 2012.
"We are delighted to have him back," Mr Everitt said.
"The major component of this role is the management of Winter Festival so Simon is a great fit.
"He has strong relationships with sponsors and suppliers and completely understands the value of festival to Queenstown's winter marketing."
Mr Green said he had always loved the festival, but felt a balance needed to be struck for him personally.
