MC Lyte is back on the scene with her first new album in 10 years and new independent ventures with Grammy winner Warryn Campbell's My Block imprint ... the ideal situation for her, and she's warning other hip hop artists to know the contracts they're signing!!!

On Friday, Lyte released her 9th album "1 of 1" and spoke to TMZ Hip Hop about how she tackled several personal topics across the music.

The track "Lyte Ghost Lil Mama" features Ghostface Killah and Lil Mama, just as the title suggests ... but the NYC rappers dedicate their verses to exposing major label hurdles such as broken distribution deals and fights over ownership a lot of rappers face.

Lyte's former label even blocked her from releasing a song produced by The Neptunes she's certain was bound for Billboard!!!

Atlantic Records is currently dumping artists and execs like the recycle bin, but Lyte tells us every situation is unique -- and artists, especially those looking to cash in on their careers, are perfect for the major label machine.

Everyone else pursuing music to hone their craft may want to explore other options that won't have them screaming Industry Rule #4080, like she did.

Lyte received The Presidential Lifetime Achievement Award and an Honorary Doctorate of Philosophy in Humanitarianism from President Joe Biden and Vice President Kamala Harris in August.

Her social posts and the "1 of 1" album leave no doubt that she's "With Her" like many other celebs for this upcoming election.

When asked which one of her songs best describes the Democratic nominee, Lyte hovered on her classic jam "Paper Thin" ... Kamala lets political criticism go to her head just like chit-chatter!!!