Rohit Sharma, Murali Vijay and Parthiv Patel have all been recalled to India's Test side for the four-match series against India, while MS Dhoni has been omitted from the Twenty20 team.
Experienced top-order batsman Sharma was dropped after the second Test against South Africa in January due to poor form and missed subsequent series against England and West Indies.
Vijay was dropped during the England series, only to impress for Essex in the County Championship and India have opted for experience for a difficult assignment in December and January.
"We felt that Rohit's nature of play, a very good back-foot player, is suited for Australia," said chief selector MSK Prasad.
"Murali Vijay was dropped from the England series. He went back and he played the county and showed his intent and performed and considering the intensity of the series, we've included him for the Australia series."
He is back in whites - @ImRo45 is back in the Test squad for the Australia series #TeamIndia pic.twitter.com/3CU85AXzLc
— BCCI (@BCCI) October 26, 2018
Parthiv was also dropped from the South Africa series, in part for a string of missed catches, and he may not have been selected had fellow wicket-keeper Wriddhiman Saha been fit for selection.
Meanwhile, Prasad confirmed that all-rounder Hardik Pandya has still not recovered from a back injury sustained during the Asia Cup and will miss the Australia series.
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India also announced their teams for Twenty20 series against West Indies and Australia in November, with Dhoni the noticeable exception.
It is the first time Dhoni has been dropped since establishing himself as one of Indian cricket's leading names.
Prasad insisted it is not the end of Dhoni's T20 international career, with India looking at other options behind the stumps.
Captain Virat Kohli will sit out the West Indies T20s, but will resume as skipper versus Australia.
INDIA DOWN UNDER: Tour fixtures, tickets, team lists, and how to watch
India Test squad to face Australia: Virat Kohli (c), M Vijay, KL Rahul, Prithvi Shaw, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Rohit Sharma, Rishabh Pant, Parthiv Patel, Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Ishant Sharma, Umesh Yadav, Jasprit Bumrah, Bhuvneshwar Kumar
India Twenty20 squad to face Australia: Virat Kohli (c), Rohit Sharma, Shikhar Dhawan, KL Rahul, Shreyas Iyer, Manish Pandey, Dinesh Karthik, Rishabh Pant, Kuldeep Yadav, Yuzvendra Chahal, Washington Sundar, Krunal Pandya, Bhuvneshwar Kumar, Jasprit Bumrah, Umesh Yadav, Khaleel Ahmed
India Twenty20 squad to face West Indies: Rohit Sharma (c), Shikhar Dhawan, KL Rahul, Shreyas Iyer, Manish Pandey, Dinesh Karthik, Rishabh Pant (wk), Kuldeep Yadav, Yuzvendra Chahal, Washington Sundar, Krunal Pandya, Bhuvneshwar Kumar, Jasprit Bumrah, Umesh Yadav, Khaleel Ahmed, Shahbaz Nadee