Lee, who missed last April's World Cup after ankle surgery, is progressing well and hopes to be fit for the inaugural 20-over competition from September 12-24.
Lee is joined in the squad by fellow paceman Shaun Tait, who is also making good progress after surgery to remove scar tissue from his right elbow last month.
The squad contains all members of the team that won the World Cup in the Caribbean two months ago, apart from the retired Glenn McGrath.
The 30-man preliminary Australia squad for the ICC Twenty20 World Championship in South Africa from September 12-24 announced Monday.
Ricky Ponting (capt), Adam Gilchrist (vice-captain), George Bailey, Nathan Bracken, Luke Butterworth, Stuart Clark, Michael Clarke, Dan Cullen, Brendan Drew, Brad Haddin, Shane Harwood, Matthew Hayden, Ben Hilfenhaus, Brad Hodge, Brad Hogg, James Hopes, David Hussey, Michael Hussey, Phil Jaques, Mitchell Johnson, Brett Lee, Andrew McDonald, Ashley Noffke, Marcus North, Luke Ronchi, Andrew Symonds, Shaun Tait, Adam Voges, Shane Watson and Cameron White.