The left-hander, who has been in great form in recent times with India A and for India Blue in Challenger Trophy, has forced the selectors on Monday to include with strong performances. India will play one T20 International and seven ODIs against Australia starting from October 10.
The selectors have picked a 15-man squad for the lone T20I and first three ODIs.
Yuvraj's last ODI for India was against England in January 2013. He missed Champions Trophy, tri-series in the Caribbean and the Zimbabwe tour.
The 31-year-old hit a hundred and half century against West Indies A in last month's three-match one-day series in Bangalore. In the lone T20 against the same opposition he scored a brisk half ton and has had a fifty in Challenger Trophy, in which he led India Blue to the title on Sunday (September 29).
Yuvraj, who was determined to make a comeback, had an extensive training in Europe along with Zaheer Khan.
Virender Sehwag, Gautam Gambhir, Harbhajan Singh and Zaheer continue to be ignored by the selection panel led by Sandeep Patil.
Wicketkeeper-batsman Dinesh Karthik, Cheteshwar Pujara, Ajinkya Rahane, Parvez Rasool and Mohit Sharma, who were all part of India's previous ODI series against Zimbabwe have been dropped. Umesh Yadav, who featured in India's successful Champions Trophy campaign in England in June and rested for Zimbabwe tour, has also not found a place.
Team India for T20I and three ODIs Vs Australia
MS Dhoni (captain), Shikhar Dhawan, Rohit Sharma, Virat Kohli, Yuvraj Singh, Suresh Raina, Ravindra Jadeja, R Ashjwin, Bhuvneswar Kumar, Ishant Sharma, R Vinay Kumar, Amit Mishra, Ambati Rayudu, Shami Ahmed, Jaydev Unadkat.
India Vs Australia Schedule (All matches Day/Night)
October 10: T20I: Rajkot
October 13: 1st ODI: Pune
October 16: 2nd ODI: Jaipur
October 19: 3rd ODI: Mohali
October 23: 4th ODI: Ranchi
October 26: 5th ODI: Cuttack
October 30: 6th ODI: Nagpur
November 2: 7th ODI: Bangalore