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Facing fiery quick Riley Meredith, Bancroft tucked ball No.1 off his pads for two.
Meredith replied with a bouncer, ruled a wide.
Bancroft blocked the next delivery, but on legal ball number three prodded outside off stump and edged behind to Matthew Wade as the Scorchers fell to 4-16.
"That return we were all waiting for has come to an abrupt end," former Test skipper Ricky Ponting said in commentary on Fox Sports.
Former England spinner Phil Tufnell couldn't resist taking a crack an Bancroft, who played eight Tests for Australia before suspension, in commentary.
"I just hope his mother sewed his pockets up," Tufnell joked.
Bancroft also said he used his time away from the game to immerse himself in yoga, dabble in Spanish and learn more about himself.
Ducking and weaving: Bancroft avoids a bouncer from Riley Meredith on his second ball back from exile.Credit:AAP
Despite copping criticism for a Boxing Day interview where he revealed David Warner was the player who told him to use sandpaper on the ball in the Cape Town Test against South Africa, Bancroft received warm applause as he walked off the ground.
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Hobart reached 4-110 with 15 balls to spare, with inform duo D'Arcy Short (34) and Matthew Wade (24) putting on a half-century opening stand.
Promoted to No.3, Alex Doolan was unbeaten on 41.
Hobart, finalists in last year's BBL, are undefeated at the top of the ladder after four matches.
Perth got off to the worst possible start when James Faulkner (2-21) trapped William Bosisto for a duck with the first ball of the match.
Meredith, the pick of the Hurricanes' bowlers, had Ashton Turner (four) chopping on with a 148km/h rocket in the same over he got rid of Bancroft.
Hilton Cartwright (29) shared a 46-run fifth-wicket stand with Ashton Agar (32) to breath some life into the innings but both fell to the spin of Short, holing out on a long hop and full toss respectively.
Nathan Coulter-Nile smacked 20 from 14 balls at the back-end of the innings but the total was never going to be enough.
Scorchers' spinner Ashton Agar bowled with flight in the search for wickets and finished with 2-19 from four overs including the wicket of Short.
AAP