Coldplay, My Morning Jacket, and deadmau5 will join previously announced headliners Eminem, Foo Fighters and Muse.
The three-day festival is the first weekend of August.
More than 130 performers will take part on eight stages, including A Perfect Circle, The Cars, Big Audio Dynamite, Girl Talk and Cee Lo Green.
Performers also include Ween, Bright Eyes, Arctic Monkeys, Deftones, Beirut, Explosions in the Sky, Death From Above 1979, Ratatat, Crystal Castles, Flogging Molly, Atmosphere, Cold War Kids, Lykke Li, Local Natives, Two Door Cinema Club, Chicago's own Smith Westerns, Grace Potter & The Nocturnals, The Vaccines, Foster the People, Portugal. The Man and Best Coast.
An electronic and dance music stage will feature Pretty Lights, Kid Cudi, Skrillex, Bloody Beet Roots, Glitch Mob, and Afrojack.
Lollapalooza founder Perry Farrell will also be making a performance on his signature stage under the moniker of PerryEtty vs. Chris Cox.
"As excited as I am to watch this year's legends perform at Lolla, I am also feeling the enthusiasm for the younger groups who are just now breaking. I take great delight in knowing that for the past 20 years we've given so many new artists a prestigious stage and a massive audience to play in front of," Farrell said in a press release.
Four-star Chicago chef and restaurateur Graham Elliot will be returning as the festival's culinary director.
Tickets are available for $215 while supplies last. A limited number of Single-Day tickets will go on sale June 7. Lollapalooza happens August 5-7.
Complete line-up, tickets and show information are available at www.lollapalooza.com.
