Evans hurt his right quadricep when he crashed on March 31 while riding near his home in Switzerland. He has not raced since finishing eighth at the Vuelta a Catalunya March 27. The former world champion said he's feeling "90 to 95 percent" recovered from the injuries suffered in a training ride crash last month.
Phinney is back in action after a recent set-back with a knee that affected his winter training. He will target the opening 3.5km prologue time trial and the Swiss race will be vital build-up for the Amgen Tour of California.
"I want to take it day-by-day and find out what level I'm at and from that make a plan of what I can contribute to the team," Evans said in a statement issued by the BMC team.
"The hardest part will be people expecting me to go there to win it. You have to be realistic. I've had four weeks of interrupted training – it's not what I'd planned and not at the level I wanted to go to Romandie."
The full BMC roster for the Tour de Romandie: Cadel Evans, Amaël Moinard, Steve Morabito, Taylor Phinney, Ivan Santaromita, Michael Schär, Johann Tschopp and Danilo Wyss.