The 43-year-old has penned a poem to accompany the eight-page nude pictorial in the magazine's January issue, reported New York Daily News.
The actress-turned-activist's appearance comes 21 years after her first stint on the magazine's cover and three years since she last graced its pages.
The 'Baywatch' star mimics actress Anita Ekberg's famous scene in the 1960 Fellini film 'La Dolce Vita', where her character cavorts in Rome's Trevi Fountain in a slinky black dress.
Anderson, whose recent stint in the Indian reality TV show 'Bigg Boss' had grabbed headlines, wrote about politics and the new sexual revolution.
Urging politicians to "Put that money to good use," Anderson ends by saying "May all your bombs be bombshells".