Australian selector Trevor Hohns referred to the four quicks as a "fast-bowling artillery" and "a very exciting proposition for Australian cricket."
Starc returned early from Australia's tour of India with a stress fracture in his right foot, but Hohns said he was confident the left-arm opening bowler would be fit to play in the June 1-18 tournament in England.
"Our medical staff will continue to monitor Mitchell and Chris' recovery from their respective injuries, but we are hopeful they will be fit in time for the team's departure on May 18," Hohns said.
All-rounders Marcus Stoinis, Moises Henriques and John Hastings were also included in the squad to be captained by Steve Smith.
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Leg-spinner Adam Zampa was the only specialist slow bowler selected, although Travis Head and Glenn Maxwell offer off-spinning options.
Head and Aaron Finch are the likely contenders to open the batting with vice-captain David Warner.
Australia squad: Steve Smith (captain), David Warner, Pat Cummins, Aaron Finch, John Hastings, Josh Hazlewood, Travis Head, Moises Henriques, Chris Lynn, Glenn Maxwell, James Pattinson, Mitchell Starc, Marcus Stoinis, Matthew Wade, Adam Zampa.
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