The Queensland senator stepped down from the portfolio he'd held for just over a year after discovering he might hold dual citizenship which would have made him ineligible for parliament.
The resources portfolio was picked up by then-deputy prime minister Barnaby Joyce.
However on Friday, Australia's High Court ruled Joyce and four other parliamentarians were ineligible due to their various dual citizenships but found Canavan and senator Nick Xenophon were not full Italian or British citizens respectively and were entitled to their elected positions.
Canavan picked the resources portfolio back up from Joyce, whose departure also signals the coalition government's loss of its one-seat majority.
"Very humbled to have been reappointed Minister for Resources and Northern Australia," Canavan tweeted.
"A great future for Oz in both these areas."