Each player will also be honored with a plaque in Monument Park. Second baseman Willie Randolph will also be honored with a plaque on Old Timer's Day, the team announced.
Pettitte's No. 46 will be retired on Aug. 23, Williams' No. 51 on May 24, and Posada's No. 20 on Aug. 22.
Pettitte and Posada each won five World Series titles with the Yankees, while Williams won four and Randolph won two.
Pettitte spent the first nine seasons of his career with the Yankees before playing three seasons for his hometown Houston Astros. He returned to the Yankees in 2007 and played four more seasons before retiring after the 2010 season.
After not playing in 2011, he returned to play two more seasons for the Yankees. In 18 seasons, Pettitte compiled a 256-153 record with a 3.85 ERA and 2,448 strikeouts. After being named in the Mitchell Report, Pettitte admitted to using HGH during his recovery from an elbow injury in 2002.
Williams and Posada each spent their entire careers with the Yankees. Williams was signed by New York as an amateur free agent in 1985 and made his debut in 1991. He had a career .297 average with 2,336 hits, 287 homer runs and 1,257 RBIs in 16 seasons, and was a five-time All-Star.
Posada made his debut with the Yankees in 1995 and had a career .273 average with 1,664 hits, 275 home runs and 1,065 RBIs. He was a five-time All-Star and won five Silver Slugger Awards.
Randolph played for the Yankees from 1976 to 1988 and would later serve as a coach with the team for 11 years. In 13 years with New York, he hit .275 with 251 stolen bases, 1,731 hits and 549 RBIs.
- Paul Palladino and Molly Geary