Four-time winner and world number one Serena Williams will head the field, with the American the perennial favourite to take out the title of the round-robin format event which holds a collective $6.5million in prize money.
Eight different nationalities will be represented, four-time major winner Maria Sharapova of Russia - winner of the season-ending finals in 2004 after beating Williams in the finale - in the field as the world number two.
Sharapova, who failed to qualify for the finals in 2013, has had her best year on tour since 2006 with four titles under her belt, including a third French Open crown at Roland Garros.
Only Serena Williams has won more tournaments than the 27-year-old in 2014, leaving Sharapova confident going into the event after such a promising campaign.
"I'm excited to get the tournament underway," she said. "I'm really proud of my performance in 2014 thus far - winning both the French Open and the China Open this month were sweet victories.
"After my wins this year, I'm feeling really strong coming into Singapore.
"I think all of the women players look forward to the WTA Finals.
"We're so often fixated on each individual tournament, the next match, the next serve. It's really important to take a step back and examine your performance throughout the season as a whole, and evaluate what went well and where improvement is needed."
Czech Petra Kvitova, Romania's Simona Halep, Canada's Eugenie Bouchard, Pole Agnieszka Radwanska, Serbia's Ana Ivanovic and Denmark's Caroline Wozniacki will make up the two four-player groups.
Kvitova joins Williams and Sharapova as the other player to have claimed the event, the two-time Wimbledon champion reigning at season's end in 2011 - the year of her first success at SW19.
Wozniacki reached the final in 2010, when she lost to now-retired Belgian Kim Clijsters.
Bouchard and Halep are the two debutants to the tournament, with the Wimbledon finalist completing her breakout year while French Open runner-up Halep has now had two consistent seasons on the WTA Tour.
The hard courts of the Singapore Indoor Stadium, which has a capacity of 7,500 and forms a major part of the billion-dollar development in the Asian hub, will play host to the tournament for the first time.
WTA Finals group draw in full:
Red Group: Serena Williams, Simona Halep, Eugenie Bouchard, Ana Ivanovic
White Group: Maria Sharapova, Petra Kvitova, Agnieszka Radwanska, Caroline Wozniacki