Simone Biles Set For Olympics Return ... Team USA 'So Excited'

Simone Biles' Tokyo Olympics run is NOT over yet ... the gymnastics star is coming back to compete in the balance beam final, Team USA announced on Monday.

Biles has been out of competition for the last week ... after she says a mental block had her concerned for her safety.

But, Team USA says Biles is now apparently ready to go ... confirming Monday that the 24-year-old will be back for the beam event Tuesday.

"We are so excited to confirm that you will see two U.S. athletes in the balance beam final tomorrow -- Suni Lee AND Simone Biles!!" USA Gymnastics said in a statement.

"Can’t wait to watch you both!"

It was previously unclear if Biles would ever compete again -- let alone in this…