The firm said the Note Fan Edition would "minimise the environmental impact" of its high-profile flop.
The handset will go on sale only in South Korea on 7 July, with a safer, smaller battery, the firm added.
Samsung stopped production on its iPhone rival late last year after an earlier botched recall and re-release.
About 2.5 million handsets have since been recalled. The new phone features components from those recalled devices, as well as unused parts Samsung has in stock.
Smaller battery, smaller price tag
Environmentalists had been putting pressure on the firm to reuse Galaxy Note 7 components to reduce the amount of so-called e-waste.
It is thought about 400,000 handsets will be made available from Friday. It will be priced about 30% cheaper than the Galaxy Note 7 at around 700,000 Korean won ($615; £472).
The devices will be fitted with 3,200 mAh batteries that Samsung says have passed strict safety tests. The Note 7 used 3,500 mAh batteries.
The Samsung Galaxy Note 8, the successor to the original Note 7, is due for release later this year.