Hingis: When people ask me who I really want to play, I always say Sharapova
Hingis said: "I know I'll get some tough matches and it will allow me to get used to the Australian summer coming from the European winter."
Hingis, who retired due to injury in 2002, announced last month she planned to return to professional tennis.
Maria Sharapova is among the other entries at the Australian women's hardcourt tournament at Royal Pines.
Three-time Australian Open champion Hingis hopes to make her Grand Slam comeback in Melbourne next month.
The 25-year-old Swiss star has been offered a wildcard for the Australian Open.
Hingis says she is ready to challenge the world's best players, despite a three-year absence caused by a string of foot, heel and ankle problems.
She said: "When you've been number one for four years, that's all you want - to compete with the best and possibly win grand slams.
When I look at the rest of the top 10, that definitely gives me hope
"I would love to be world number one again, but I can only see if that's possible once I start competing."
Hingis said she was relishing the chance to test herself against the players who have succeeded in her absence.
"When people ask me who I really want to play, I always say Sharapova.
"Firstly, because she's the only one I haven't played, but also because she's won Wimbledon and been number one herself, so she's probably the young girl to aim for right now.
"When I look at the rest of the top 10 and see that Lindsay Davenport, Mary Pierce, Amelie Mauresmo and the Belgian girls (Kim Clijsters and Justine Henin) are still at the top, that definitely gives me hope."
Hingis, who won the last of her three straight Australian Open titles in 1999, has dropped out of the WTA rankings and needs wild card invitations to play.
I'm not young enough to know everything.