Mziwamadoda Qwabe says he and Mrs Dewani's British husband Shrien Dewani shot her dead.
A South African taxi driver has already accused Mr Dewani of asking him to organise his bride's murder.
Mr Dewani denies plotting to kill his wife. A British court has halted his extradition, citing his mental health.
According to a court document, Qwabe admitted stealing jewellery - including a white gold and diamond bracelet and a Georgio Armani watch - from Mrs Dewani, 28, before killing her.
He said the murder had been organised by Shrien Dewani, 32, and taxi driver Zola Tongo and Xolile Mngeni had also taken part.
Defence lawyer Daniel Theunissen told the high court in Cape Town that Qwabe had agreed to plead guilty to kidnapping, robbery, murder and illegal possession of a firearm.
In March, the High Court in London temporarily halted Mr Dewani's extradition. He has been diagnosed as suffering from severe post-traumatic stress disorder and depression.
His lawyers want proceedings to be halted for a year to give him time to recover.
Mr Dewani faces charges of murder, conspiracy to commit murder, robbery with aggravating circumstances and obstructing the administration of justice.
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