The Spaniard lifted the trophy in 2007 and 2012 at the ATP 250 event and a return to clay will be welcome after his troubles on grass this year.
Ferrer opted not to play any warm-up tournaments before Wimbledon and that decision back-fired as he was eliminated in the second round at the All England Club by Russia's Andrey Kuznetsov.
Having taken the first set on a tie-break, Ferrer looked well placed to progress, but Kuznetsov hit back to win 6-7 (5-7) 6-0 3-6 6-3 6-2. Ferrer helped his opponent with 22 unforced errors.
Clay is a surface he is much more comfortable on, though, and with a 20-6 record on the surface this season, Ferrer will hope to challenge for a second title of the year.
Four semi-finals, three on clay, have ended in defeat for the world number seven and the only time Ferrer has reached a final in 2014 he beat Fabio Fognini to win in Buenos Aires.
It has been a tough year to date for Ferrer and a stomach bug hampered his preparations for Wimbledon, although he refused to blame the sickness on his early exit.
Bastad, though, has been a happy hunting ground for the Spaniard - defeating Nicolas Almagro in both the 2007 and 2012 finals as well as finishing runner-up in 2011.
Defending champion Carlos Berlocq is likely to have something to say about his charge for the title, though, and will be a threat to the 32-year-old.
The Argentine claimed only his maiden Tour win when he beat Fernando Verdasco in straight sets in 2013 and has since gone on to claim a second in Oeiras earlier this year.
Tommy Robredo is another former champion returning with a point to prove after a fourth-round defeat against a rejuvenated Roger Federer at the All England Club.
Bastad presents the 32-year-old with a chance to claim his first title of 2014 and 13th of his career.