Saina Nehwal's base price has been fixed at USD 50,000 and she is expected to be the costliest player in the league.
London Games men's singles quarter finalist Parupalli Kashyap will also take part in the league.
World bronze medal winning women's pair Jwala Gutta and Ashwini Ponnappa and P V Sindhu were also named as the icon players of the league.
The IBL, which is a joint initiative of the Badminton Association of India (BAI) and its commercial partner Sporty Solutionz Private Ltd, is to be held in eight cities: Delhi, Nagpur, Pune, Mumbai, Lucknow, Chennai, Hyderabad and Bangalore.
Five Indian players, including Olympic Games bronze medalist Saina Nehwal, were announced as the icon players of the USD 1 million prize money Indian Badminton League (IBL), to be held next year.