Final Four teams Florida and Wisconsin could meet in the semifinals of the fourth annual Battle 4 Atlantis.
North Carolina, UCLA, Oklahoma and Georgetown are also in the eight-team field announced Wednesday.
The Gators and Hoyas meet in the opening round Nov. 26, with the winner facing Wisconsin or UAB. Butler will play North Carolina, and UCLA is taking on Oklahoma in the other opening games.
The championship is Nov. 28 at the 3,900-seat Imperial Arena, a ballroom converted to a basketball venue.
From Nov. 14-22, the teams traveling to Paradise Island will host a game on the mainland. The opponents include Louisiana-Monroe, Coastal Carolina, Chattanooga and Robert Morris.
Villanova upset then-No. 2 Kansas in the semifinals and beat Iowa to win last year's tournament.