Sugar Puffs were launched in 1957 by previous brand owner Quaker Oats, and are now produced by Halo Foods.
Halo is relaunching the cereal under its new name with a reformulated recipe that it says contains less sugar and 20 per cent more honey.
The relaunch comes ahead of a £3 million marketing campaign planned for next year.
Halo says the “reinvigorated” packaging design features the Honey Monster character alongside traffic light nutritionals on front of pack.
Steven Anderson, group creative director at Smith & Milton, says: “To work with such an iconic brand and character as the Honey Monster has been a brilliant opportunity for us.
“There is fantastic equity in the Honey Monster himself, who remains the number one brand icon in the cereal category despite having been fairly quiet in recent years.
“We always planned to take full advantage of this – and that’s exactly what we’ve done by returning the big guy to his rightful place at the heart of the design.”
Andy Valentine, marketing director at Halo Foods, said; “The Honey Monster was a staple of family breakfasts for decades. Our research has shown us that consumers still have a strong feeling of nostalgia, trust and loyalty towards him, so it’s fantastic that we’re able to bring him back.”