Delhi failed to qualify for the playoffs last season after finishing sixth in the eight-team event, with six wins from 14 matches. They have yet to win the title in 10 attempts.
Ponting, who announced his retirement from international cricket in 2012, guided Mumbai Indians to their second IPL title in 2015 during his two-year coaching stint with the franchise.
The 43-year-old was also named the assistant coach of Australia for the Twenty20 series against Sri Lanka last year.
The IPL announced on Thursday the list of players who have been retained by their teams ahead of the auction later this month for the April 4-May 27 tournament.
Australia skipper Steve Smith and his vice captain David Warner were each retained for 120 million rupees (1.39 million pounds) each by Rajasthan Royals and Sunrisers Hyderabad respectively.
Indian captain Virat Kohli was retained by Royal Challengers Bangalore for 170 million rupees, while South Africa's AB de Villiers will be paid 110 million rupees.
(Reporting by Hardik Vyas in Bengaluru)
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