The world number seven will feature alongside seven other players, including Maria Sharapova.
All matches in the event, which begins with a round-robin stage, comprise a single tie-break to 10 points.
"Tie-breaks provide so many pressure-filled moments and it will be fascinating to see who handles it best," said Konta, 25.
The winner of the inaugural women's tournament will receive $200,000 (£161,000), with an additional $100,000 (£80,547) donated to a charity working to combat domestic violence.
The men's tournament, which features US Open champion Stan Wawrinka and world number seven Kei Nishikori, runs alongside the women's event.
Britain's Andy Murray has reached the final of the past two events, losing to compatriot Kyle Edmund in London, and Austria's Dominic Thiem in Vienna.
British number one Johanna Konta will play in the first women's Tie Break Tens event, in Madrid on 4 May.