The free service starts at 9 p.m. Tuesday and runs through 2 a.m. Wednesday, the Los Angeles Times reported.
The effort is designed "with the goal of reducing traffic congestion and providing safe transportation for those staying out extra late," according to a post on Metro's blog, The Source.
Metro officials also said that on New Year's Day, buses and trains will be on Sunday or holiday schedules, except for the Gold Line. Regular fares will be in effect.
Service on the Gold Line between Union Station and Pasadena is going to be increased because of the Tournament of Roses Parade and the Rose Bowl game.
Meanwhile, several bus lines along the parade route will be detoured or split in two at Colorado Boulevard until the streets reopen.
-- Ari Bloomkatz, Los Angeles Times