Cambodian Prince Norodom Ranariddh, son of the late King Norodom Sihanouk, will return to lead the royalist Funcinpec Party after a request from the current party's leaders, according to his statement on Thursday.

"It's a great honor and pleasure for me. I agree to return to be the president of Funcinpec Party at your request," Prince Ranariddh said in a letter sent to his half-sister Princess Norodom Arun Rasmey, Party's Current President, and Nhek Bun Chhay, Party's Secretary General.

Ranariddh, 71, was former co-prime minister from 1993 to 1997 and ex-president of the National Assembly from 1998 to 2006. He is currently the head of the Supreme Privy Advisory Council to King Norodom Sihamoni, his half-brother.

His return to the party came after Princess Arun Rasmey and Bun Chhay requested him and said the prince would be officially elected the president of Funcinpec Party in a congress later this month.

They said the invitation of Ranariddh to lead the party is " aimed to unite royalists and Sihanoukists."

Ranariddh was ousted from Funcinpec Party in 2006 following allegations that he embezzled funds from the sale of the party's headquarters.

Funcinpec Party was founded in 1981 by the late King Norodom Sihanouk. It was once the country's largest political party, but its popularity has gradually vanished from one mandate to another due to internal rifts and the party won no seat in the parliamentary election in 2013.