Lil Tjay says his comeback is officially complete ... the Bronx-bred rapper just popped the lid off his first project since being shot multiple times a little over a year ago.

We spoke with Tjay near Times Square at his "222" album release party last night -- and he's extremely confident that he's returned to the top of his rap game.

Tjay's team transformed the Brooklyn Chop House into a soiree dedicated to the "222" project, where Tjay took pics, rapped for fans and kicked it with Fivio Foreign -- who was in the building to support his friend.

The project also sports features from Jadakiss, NBA YoungBoy, The Kid LAROI, Summer Walker, and Coco Jones.

Tjay predicts fans will receive the music very well ... it's been over 2 years since he had a new project and his fate was hanging in the balance this time last year.

TMZ Hip Hop broke the story at the time ... Tjay was shot 7 times on June 22, forcing him into emergency surgery, and he's even had some legal drama amid getting this album out.

He created "222" out of sentiment ... it stands for the time on the clock Tjay says he saw when he was airlifted to the hospital after being shot.