Phogat, who belongs to India's most famous wrestling family, sizzled in her debut late last year when she beat Nam Hee Kim in the first round by technical knockout.
The 25-year-old will need to be at the top of her game against Wu, who is looking to make an impact on her debut.
"It was quite challenging to leave wrestling and join another sport but the win has increased my confidence. The ambience at ONE Championship has been amazing and I am overwhelmed by the love and support I have received so far from fans and from my teammates here in Singapore. I am looking forward to getting a win again," said Phogat.
Other than Phogat, there will be 11 other bouts. In the main event, ONE World Champion Stamp Fairtex of Thailand is scheduled to defend her ONE Atomweight Kickboxing World Title against Janet Todd of the United States.
The two were involved in an epic battle at the inaugural ONE Atomweight Muay Thai World Championship battle in early 2019 and would reprise their sizzling rivalry with the ONE Atomweight Kickboxing World Championship on the line.
In the co-main event of the evening, reigning ONE Strawweight Kickboxing World Champion Sam-A Gaiyanghadao of Thailand will take on WPMF Bantamweight World Champion, Rocky Ogden of Australia for the ONE Strawweight Muay Thai World Title.
In a lightweight contest, former ONE World Title challenger Amir Khan of Singapore will take on ONE Warrior Series contract winner Kimihiro Eto of Japan. Veteran Yoshihiro Akiyama of Japan and Korea returns to action against Sherif Mohamed of Egypt in a welterweight mixed martial arts contest.
Top women's atomweight and former ONE World Title challenger Mei Yamaguchi of Japan continues her march to the top of the weight class, this time by facing formidable Chinese adversary, Meng Bo.
Unbeaten American bantamweight contender Troy Worthe will take on New Zealand's Mark Fairtex Abelardo, a ONE Warrior Series contract winner.
Former ONE Featherweight World Champion Honorio Banario of the Philippines will battle Thai superstar Shannon Wiratchai in a featherweight contest.
( With inputs from IANS )