It depends on what H1B approval is

If it is just the approval notice, you will not be able to come back. If you refer to a visa stamp on your passport and it still has valid entries, you can come back. But why do you want to surrender I-94? Just don't do it.

Moreover, if you never traveled outside the US after getting your H-1B approval when you were in the US, you will likely NOT be able to come back with the I-94 card which was sent to you along with the approval notice. Only the I-94 issued at port of entry can allow you to come back. NOTE that there are exceptions. Some people managed to enter the US with it. But some failed. You probably don't want to take the risk.