The British player had foot surgery in October and hasn't played since the Olympic Games in July. Baltacha admitted she had doubts over coming back.
Since suffering from injury, Baltacha has slipped to rank 173 in the world, but has a protected ranking of 103, so will qualify for Grand Slams on her return.
"My motivation to come back is that I think I've still got two or three more years," Baltacha said.
"I don't think having that last match at the Olympics against Ana [Ivanovic] was the right time to pack it in. To be honest, I really needed that break. I didn't realise how exhausted I was, mentally and emotionally, and I hit a wall.
"Having the six months off, doing a bit of coaching with the EBAT (Elena Baltacha Academy of Tennis) girls, really made me realise where I fell short as a player. Not seeing it as a player but as a coach, it made me realise where I struggled as a player and what I needed to do."
Asked if she believed she could overhaul the likes of Laura Robson and Heather Watson to regain the British number one spot, Baltacha said: "I think anything is possible."
Interview via BBC Sport.