Hughes had pitched twice since his latest call-up from Indianapolis on Monday, working 2 2/3 innings in a pair of appearances in Atlanta earlier this week.
This will be Presley's third big-league stint this season. He was the Pirates' Opening Day left fielder in 2012 and made an impact during his previous brief stay. He had last been recalled on May 31, and started two games, including going 3-for-5 on June 1 against the Reds.
Presley had been optioned back to Indianapolis when Hughes was recalled, on Monday.