The Top Seed Open said 23-time Grand Slam champion Williams and 2017 US Open winner Sloane Stephens will be in the field when play begins on August 10.
Williams hasn’t played since representing the United States in the Fed Cup in February before the WTA tour along with most of the global sport shut down amid the coronavirus pandemic.
Both the WTA tour and the men’s ATP tour are scheduled to resume in August.
Williams has already said she plans to enter the next scheduled Grand Slam tournament, the US Open, which is slated to begin in New York on August 31.
The Kentucky tournament was one of two new events confirmed by WTA chief executive Steve Simon last week as additions to the tour’s revamped calendar.
WTA action is scheduled to resume with the Palermo Open in Italy starting on August 3.