"It will be great to have the team back together," world number two Rory McIlroy said in a news release on Monday.
"It was such a special Ryder Cup, one that will have a special place in history, and I don't think anyone associated with that team will ever get tired of celebrating it."
United States were 10-6 up going into the last day of the biennial event at the Medinah Country Club in Illinois in September but the Europeans staged a remarkable comeback to win by 14 1/2 points to 13 1/2.
"I am delighted the British public will get the chance to see all of my Ryder Cup team in action at Wentworth," said Olazabal.
"Medinah was an unforgettable experience for everyone who was there ... and the BMW PGA Championship is the perfect setting for the players to be reunited to show what they can do as individuals as opposed to the team environment."
McIlroy, Luke Donald, Justin Rose, Ian Poulter, Lee Westwood, Sergio Garcia, Nicolas Colsaerts, Peter Hanson, Graeme McDowell, Martin Kaymer, Francesco Molinari and Paul Lawrie will lead the chase for a record first prize of 791,660 euros ($1.03 million) on the outskirts of London.
Donald is seeking to emulate Colin Montgomerie's record of three consecutive victories in the tournament.
The European Tour's flagship event starts on May 23.