The bird, known affectionately as Lady, has nested at the Loch of the Lowes reserve near Dunkeld for 22 consecutive years.
Ospreys live on average for 10-15 years in the wild.
Staff from the Scottish Wildlife Trust (SWT) said they had once again "positively identified" the bird.
Emma Rawling, a ranger from the SWT, said staff were able to identify Lady due to her "distinctive iris and plumage".
Here's the Loch of the Lowes webcam. She's there with her mate right now as I'm posting this