India wicketkeeper Pant was involved in a near-fatal car crash in December 2022 that required him to undergo multiple surgeries and kept him out of the 50-overs World Cup on home soil last year.
The Delhi Capitals captain was initially expected to play purely as a batter in the 10-team IPL, which begins in Chennai on March 22nd.
"After undergoing an extensive 14-month rehab and recovery process... Rishabh Pant has now been declared fit as a wicketkeeper-batter for the upcoming IPL 2024," BCCI secretary Jay Shah said in a statement.
A strong showing in the IPL could earn Pant a place in India's squad for the T20 World Cup in June.
Shami, who missed India's recent home series against England and underwent surgery, is a doubt for the World Cup.
Fellow seam bowler Prasidh Krishna has also been ruled out of the IPL with a quadriceps tendon injury.
