In the suit, which also includes 16 former college athletes, are claiming the NCAA allowed the use of their likenesses without compensation.
Also named in the suit are video game producer Electronic Arts and the Collegiate Licensing Company. As of last week, the NCAA ended its agreement with EA Sports to use the NCAA name and logo for its video games.
The lead plaintiff in the lawsuit is former UCLA basketball standout Ed O'Bannon.
The current players are allowed to join the suit as a result of a ruling on July 5, where a federal judge in Oakland, Calif., allowed attorneys for the players to update their lawsuit for legal technicalities.
The judge in the case could still turn the lawsuit into a class action suit, which could open up the participation of thousands current and former athletes.
Such a ruling that could expose the NCCA and its member schools to billions of dollars in damages, Fox 9 and The AP says.
Attorney Michael Hausfeld in a statement called the actions of the athletes "incredibly brave."
"They are well-aware of the risks of standing up to the NCAA, and yet they felt that this was the right thing to do," Hausfeld said.