World number five Agnieszka Radwanska heads the field and on Thursday organisers confirmed that she would be joined by former Wimbledon champion Petra Kvitova.
Former world number ones Jelena Jankovic and Caroline Wozniacki will also compete, while the other top-10 stars to have signed up are Sara Errani and Angelique Kerber.
In addition, Simona Halep and Sloane Stephens, both currently ranked just outside the top 10, are on the entry list.
The men's field is not as strong but it still features three top-20 players.
World number five Juan Martin Del Potro is the star name entered. Nicolas Almagro and Fabio Fognini will also be in attendance.
Tournament director Craig Watson said: "Our confirmed entry lists are incredibly strong; having a pair of top five stars headlining a multitude of top-50 players ensures we will all witness some outstanding and memorable tennis action this January."
The Sydney tournament takes place from January 5-11 with the Australian Open getting under way on January 13.