Chief executive James Freeman said "after careful consideration" it was "readily apparent" that the changed route was too "indirect and awkward".
He added: "By reverting to the previous line of route we will make each journey quicker and we should be able to improve general timekeeping.
"When the current timetable was designed, it was never envisaged that buses would divert via the Mount and Kidmore Road.
"We are sure this latest move will be welcomed by people living in Caversham Heights and in particular in the Mount area.
"In particular, those accustomed to using stops that have only been served since September by Reading Borough Council's 'Community Link' service."
Mr Freeman said there would be a "downside" for people who used the buses to and from stops along the length of Hemdean Road - where the loss of the buses would mean the service would be every half hour.
"We cannot yet give a date for this change," said Mr. Freeman.
"It is dependent on some changes being made to car parking in Priest Hill itself - it will be remembered that the difficulties previously experienced traversing Priest Hill were one of the reasons for last September's change.
"We do intend to go ahead as soon as practicable which in reality is likely to be early summer.
"We expect that in consequence of Reading Buses changing the route of Pink 22, the Community Link buses 18 and 28 will be withdrawn from Caversham Heights and redeployed elsewhere in Caversham to meet other needs.
"Reading Borough Council will make the appropriate announcements in due course."