The world ranking event will run from 7 to 13 February when Aldersley Leisure Village stages a major snooker event for the first time.
Tickets are on sale and start from just £15, with afternoon sessions beginning at 1pm and evening sessions at 7pm. Full details are available at WST Tickets.
The tournament will be televised by ITV4 and a range of other broadcasters worldwide.
A World Snooker Tour (WST) spokesman said: “We are thrilled to stage the Cazoo Players Championship at Aldersley Leisure Village for the first time, it is a fantastic venue and a fitting location for such a big tournament.
“We know there is a lot of support for snooker in the Wolverhampton area and we expect to see great crowds and a superb atmosphere throughout the week.
“The field is packed with the very best players in the world so for local fans this is an incredible chance to see top class live sport. We’re looking forward to a great week.”
City of Wolverhampton Council Cabinet Member with responsibility for city events, Councillor Steve Evans, added: “We are absolutely delighted the World Snooker Tour has chosen Wolverhampton to stage one of its prestigious televised events.
“The successful staging of the Grand Slam of Darts and big name comedy events at WV Active’s Aldersley Leisure Village showed what a great venue it is – and now it will host some of snooker’s greats.
“This is all part of our overall 5 year events strategy to bring the very best in art, music and sport to the city to boost the local economy, create new jobs and build an outstanding cultural reputation.
“2022 is a huge year for events in Wolverhampton with the Cazoo Players Championship adding to British Art Show 9 - which is currently running at Wolverhampton Art Gallery and University’s School of Art – the Creation Day music festival, Commonwealth Games cycling time trial, and the reopening of the refurbished Civic Halls.”