All third-round games will be played on Monday, Nov. 19, with the championship game scheduled for 9 p.m.
First-round matchups on the opposite side of the bracket feature Mercer vs. George Mason and UIC vs. New Mexico.
Television assignments for all games will be announced at a later date.
This will mark Wake Forest's first-ever appearance in the Paradise Jam and the Deacons' first-ever regular season games played in the Caribbean. The Deacons played two preseason exhibition games in Nassau, Bahamas, prior to the 2006-07 season.
The last time Wake Forest played outside of the contiguous U.S. during the regular season came during the 1999-2000 season when the Deacons participated in the Rainbow Classic in Honolulu, Hawai'i.
Wake Forest and Connecticut have met twice previously on the hardwood, splitting the matchups. The Deacons handily won the first meeting, 103-77, in the opening round of the Quaker City Tournament on Dec. 29, 1969, at the Spectrum in Philadelphia. In the most recent meeting, UConn defeated Wake Forest, 84-75, on Dec. 2, 1991, at the Hartford Civic (now XL) Center.
Wake Forest has never faced Iona or Quinnipiac previously. The Deacons are 3-1 all-time vs. New Mexico and 1-0 vs. both George Mason and Mercer, respectively. Wake has never faced UIC, which is the alma mater of Deacon head coach Jeff Bzdelik.