Williams, a seven-time Grand Slam champion, has not played since suffering an early exit from last year's US Open after a humbling defeat by qualifier Greet Minnen in the first round.
The veteran American and former world number one will return to Indian Wells for the first time since 2019 when she reached the quarter-finals.
Wozniacki made a comeback to the circuit last year after a three-year break following the births of her two children. She reached the fourth round of the US Open, where she lost to eventual champion Coco Gauff, and made it to the second round of the Australian Open last month.
Denmark's Wozniacki, a former world number one and Australian Open champion in 2018 will be back in Indian Wells after a five-year hiatus, having won in 2011.
The BNP Paribas Open will be held at the Indian Wells Tennis Garden from March 6th to 17th.
